Bank of America Settles Mortgage Claims for $8.5 Billion

Bank of America Corp. (BAC) on Wednesday agreed to settle for $8.5 billion to rest demands from investors that the bank buy back soured residential mortgages made by Countrywide Financial Corp.
Bank of America Settles Mortgage Claims for $8.5 Billion
A pedestrian walks by a Bank of America branch office on January 21, 2011 in San Francisco, California. During 2010, U.S. banks increased their lending, although most of the credit was extended to large- and medium-sized businesses. Justin Sullivan/Getty Images
|Updated:

<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/108231346.jpg" alt="A pedestrian walks by a Bank of America branch office on January 21, 2011 in San Francisco, California. (Justin Sullivan/Getty Images)" title="A pedestrian walks by a Bank of America branch office on January 21, 2011 in San Francisco, California. (Justin Sullivan/Getty Images)" width="320" class="size-medium wp-image-1798798"/></a>
A pedestrian walks by a Bank of America branch office on January 21, 2011 in San Francisco, California. (Justin Sullivan/Getty Images)
Frank Yu
Frank Yu
Author
Related Topics