Sunday, December 4, 2016

BofA approaching $7 billion of consumer relief in toxic mortgage settlement

Bank of America is almost finished with providing $7 billion in consumer relief required as part of its $16.65 billion settlement with the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.

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