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RJ & Makay

Our view of news, events and human capital trends in the financial services industry.
Tags >> Paul Miller

Bank of America agrees to $8.5 billion mortgage securities settlement

Posted by RJ and Makay on Jun 30, 2011

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Bank of America (BAC) announced Wednesday an agreement to pay $8.5 billion to settle claims by large investors who lost money on mortgage-backed securities purchased before the 2008 housing collapse.  It would be the largest settlement to date by any financial services firm tied to the subprime mortgage boom and subsequent bust.