Illinois Attorney General Lisa Madigan states that they were able to establish the first-of-its-kind mandatory loan modification program from the settlement.SIMONRUTHEBSCO_bspWall Street Journal Eastern EditionRuth, Simon. 2008. "Bank of America Settlement Worth Over $8 Billion," Wall Street ...
According toThe Wall Street Journal, Bank of America (BAC) has reached a record $17 billionsettlementwith the U.S. Department of Justice [DOJ] to resolve claims over the toxic residential mortgage-backed securities the lender issued in the run-up to the 2008 financial crisis. The report says...
Bank of America will pay Fannie Mae $3.6 billion, and will also spend $6.75 billion to buy back mortgages from the agency at a discount to their original value.The settlement will resolve all of the lender's disputes with Fannie Mae, removing a major impediment to Bank of America's rehabi...
Bank of America has agreed to pay USD 75 million to settle a lawsuit accusing the bank of extracting overdraft fees it didn't earn from customers with savings and checking accounts, Reuters says. A preliminary settlement of the proposed class action was filed with the federal court i...
The regulator previously indicated it objected to a proposed $8.5 billion settlement between Bank of America and investors in the toxic securities. On Friday it withdrew its notice of intent to object to that settlement, which is awaiting approval in New York state court, but did not provide a...
Bank of America has agreed to pay out $8 million to customers who were not already refunded for repeated NSF or overdraft fees, according to the class action settlementwebsite. Bank of America has also promised to abandon the duplicate fee penalties for re-presented payments for at least fiv...
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