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BoA moves to end $12b legal threat
Bank of America is in discussions with the US Department of Justice over the payment of some $US12b, in order to end the largest legal threat it faces.
Bank of America is in discussions with the US Department of Justice over the payment of some $US12b, in order to end the largest legal threat it faces. kenkistler
The payment would be made to end a long-running investigation by the authorities into the Bank’s alleged mis-selling of mortgage-backed securities. The bank has been struggling to deal with litigation and investigation since the financial crisis. If it ends up paying the US$12bn, then the compensation, when added to previous sums paid, could mean that has paid the largest settlement made by a bank. Source: Financial Times
