Start A Petition

Bank of America in Record $16.7bn Mortgage Settlement

Business  (tags: Bank of America, investors, US authorities, USA )

- 1342 days ago -
Bank of America has agreed to pay a record $16.7bn (£10bn) to US authorities for misleading investors about the quality of loans it sold.

Select names from your address book   |   Help

We hate spam. We do not sell or share the email addresses you provide.


Kamia T (89)
Thursday August 21, 2014, 4:29 pm
Phoeey on paying the authorities! What about the millions of people who were approved for those bogus mortgages when it was clear they never would be able to afford them and/or all the people foreclosed upon, evicted and their life-savings and futures destroyed because of this madness? THEY are the ones who should be getting paid -- not some agency.

Leanne B (46)
Friday August 22, 2014, 12:55 pm
I really agree with that Kamia!

Lois Jordan (63)
Friday August 22, 2014, 1:01 pm
Noted. Thanks, Ray. Of course I agree with Kamia's comment, too. But, this is really a pittance for BofA, to put it in perspective. And, I'll celebrate when they actually pay up and the "check is cashed." And, they're certainly not hurting as shares opened 1.5% higher following the settlement. So, I ask: What punishment??

Roger G (154)
Friday August 22, 2014, 1:49 pm
noted, thanks

Birgit W (160)
Friday August 22, 2014, 2:29 pm
Kamia T. says it all. Our banks are criminal organizations, and should be all closed. We are in urgent need of a brand new banking system.

. (0)
Saturday August 23, 2014, 6:31 am
Good luck to we the people who still think they elect their own governments. This is a drop in the bucket for BOA just like the Gulf ruling was for BP. How much of the TARP money has been paid back to the American taxpayer?
Or, log in with your
Facebook account:
Please add your comment: (plain text only please. Allowable HTML: <a>)

Track Comments: Notify me with a personal message when other people comment on this story

Loading Noted By...Please Wait


butterfly credits on the news network

  • credits for vetting a newly submitted story
  • credits for vetting any other story
  • credits for leaving a comment
learn more

Most Active Today in Business

Content and comments expressed here are the opinions of Care2 users and not necessarily that of or its affiliates.

New to Care2? Start Here.