9.2 C
New York
Thursday, March 28, 2024

Bank Of America In Record $17 Billion Settlement

Courtesy of Benzinga.

Related BAC
Visa (V) or MasterCard (MA): Which Is The Better Stock? – Stocks in the News
Financials, Bond And Housing ETFs To Watch This Week
Making Money With Charles Payne: 08/28/14 (Fox Business)

Shares of Bank of America (NYSE: BAC) are trading higher on the back of an Associated Press story confirming that the bank has reached a definitive agreement to pay a roughly $17 billion fine, marking the biggest ever settlement between the U.S. government and a company.

This agreement had been tentatively reached on August 6, but was finalized Wednesday.

In a related story, civil prosecution may be brought against former Countrywide Financial head Angelo Mozilo regarding mortgage issuance during the sub-prime boom. Bank of America took over Countrywide during the the financial crisis in July 2008.

Bank of America shares are up 0.5 percent to $15.50.

Posted-In: News Legal

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

157,451FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x