Wednesday, June 29, 2011

Bank of America in $8.5B mortgage settlement (AP)

FILE - In this Jan. 25, 2009 file photo, a Bank of America branch office is shown in New York. The Bank of America said Tuesday, June 29, 2011 it will pay $8.5 billion to settle with investors over housing crash claims. (AP Photo/Mark Lennihan, file)AP - Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.


Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/ap/20110629/ap_on_bi_ge/us_bank_of_america_mortgage_buybacks

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