CalPERS gets $249 million in Bank of America mortgage settlement

Categorized | STOP FORECLOSURE FRAUD

CalPERS gets $249 million in Bank of America mortgage settlement

CalPERS gets $249 million in Bank of America mortgage settlement

Sacbee-

CalPERS said Monday it has received a $249.3 million payment from Bank of America, the result of a settlement over toxic mortgage securities purchased by the pension fund during the housing bubble.

With the Bank of America settlement, the California Public Employees’ Retirement System said it has now recovered more than $500 million from its investments in bad mortgage securities.

“This is money that rightfully belongs to our members for their long-term retirement security,” said CalPERS Chief Executive Anne Stausboll in a prepared statement. “We’re glad that those who misled investors about the risks of mortgage-backed securities continue to compensate our members for their losses.”

In mid-September, CalPERS collected $88 million from Citigroup Inc. over similar investments.

Read more here: http://www.sacbee.com/news/business/article3546326.html#storylink=cpy

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8687 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives