Global markets wrap with CNBC’s Mandy Drury. The Dow started higher but loses its early-morning gains. 3M is higher and Bank of America agrees to pay $315 million to investors who claim they were.
Bank of America has paid $315 million to settle lawsuits brought by Deutsche Bank AG and bnp paribas mortgage corp. over BofA’s handling of hundreds of millions of dollars in mortgage-backed notes,
Merrill Lynch & Co., which is now owned by Bank of America, has agreed to pay $315 million to settle a mortgage-securities lawsuit. Many observers believe this could well be the first of a long line of settlements.
· Eight financial services firms have paid the FDIC $190 million to settle claims they misled five U.S. banks into buying risky mortgage securities from.
Bank of America’s settlement with Bank of New york mellon represented just a fraction of Bank of America’s put-back exposure. According to Bank of America’s own estimates, it has reserved approximately $18 billion in connection with put-back exposure, including the following: $8.5 billion to settle its Countrywide RMBS exposure; $3 billion
(Reuters) – Bank of America Corp agreed to pay $315 million to settle claims by investors who said they were misled about mortgage securities offerings by its Merrill Lynch unit.
The Charlotte bank increased its overall settlement offer after Bank of America CEO Brian Moynihan and U.S. Attorney. than $10 billion a year in dividends to shareholders, it paid just $428 million.
· Deutsche Bank said on Friday it will pay $1.9 billion to settle claims that it defrauded two U.S. government-controlled companies in the sale of mortgage-backed securities before the 2008.
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· (Spencer Platt/Getty Images) A federal judge on Wednesday ordered Bank of America to pay $1.27 billion in damages over thousands of defective mortgages sold by its Countrywide Financial unit, delivering a win for the government in one of the few major trials stemming from the financial crisis.
Bank of America agreed to pay $315 million to settle claims by investors that they were misled about mortgage-backed investments sold by its Merrill Lynch unit. The settlement was disclosed in.
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Bank of America agreed to pay $US2.43. I/B/E/S. The settlement, which requires court approval, would resolve a case set for an October 22 trial in US District Court in Manhattan. The bank still has.
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