Bank Of America Agrees Record $17bn Settlement

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Bank Of America Agrees Record $17bn Settlement

Bank Of America Agrees Record $17bn Settlement

AND …Again…No jail time!

 

Sky News-

Bank of America has agreed to a record $17bn (£10.2bn) settlement over its sale of mortgage-backed securities in the lead up to the 2008 financial crisis.

The bank will pay $10bn in cash and provide consumer relief valued at $7bn, officials familiar with the deal told the AP news agency.

The settlement is the largest arising from the economic meltdown during which millions of Americans lost their homes to foreclosure.

It also marks the largest settlement in the history of corporate America.

[SKY NEWS]

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