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Bank of America in Record $16.7bn Mortgage Settlement


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

Ray
- 31 days ago - bbc.co.uk
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.



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Comments

Kamia T. (67)
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. (27)
Friday August 22, 2014, 12:55 pm
I really agree with that Kamia!
 

Lois Jordan (56)
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 Garin-michaud (62)
Friday August 22, 2014, 1:49 pm
noted, thanks
 

Birgit W. (144)
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.
 

Catman P. (913)
Friday August 22, 2014, 9:45 pm
ty
 

Michael Kirkby (85)
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?
 
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