The bank has spent more than 60,000 million to settle legal problems arising from the financial crisis
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| 21/08/14 22:15 | Add your site |
Bank of America has agreed . paying a record fine of 16,650 million dollars to settle the case of subprime mortgages, putting an end to a legal odyssey that has haunted him from the depths of the financial crisis
Read also: Bank of America have agreed to 17.000 million subprime mortgages
This settlement resolves a government investigation that is associated largely on the acquisition of Merrill Lynch and Countrywide Financial . The total amount of the fine is the largest imposed by the United States and a company.
Bank of America has spent more than 60.000 million to resolve legal issues arising from the financial crisis , and the latest deal this figure could reach 80,000 million
Read also:. The Fed approves plans capital Bank of America raises its dividend for the first time in seven years
According to the agreement, the entity will pay 9,650 million in cash and 7.000 million affected customers by subprime mortgages, refinancing loans to those affected by the malpractice, forgiving part of the debt in certain cases, investing in stabilizing neighborhoods and lso undertaking initiatives to support urban communities at risk of deterioration.
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