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Historic Bank Settlement Proves The Right Wing Wrong 8/23/14 (Scandal)

  • Uploaded 4 years ago in the category News and Politics

    PROVIDED BY CNNNEXT.COM Scandal

    Bank of America Corp has reached a $16.65 billion settlement with U.S.

    regulators to settle charges that it mis

    ...

    PROVIDED BY CNNNEXT.COM Scandal

    Bank of America Corp has reached a $16.65 billion settlement with U.S.

    regulators to settle charges that it misled investors into buying troubled mortgage-backed securities.



    The settlement announced on Thursday by the U.S.

    Department of Justice calls for the second-largest U.S.

    bank to pay a $9.65 billion cash penalty, and provide $7 billion of consumer relief to struggling homeowners and communities.



    It is expected to resolve the vast majority of the Charlotte, North Carolina-based bank's remaining liabilities tied to its purchases of Countrywide Financial Corp, once the nation's largest mortgage lender, and Merrill Lynch & Co.

    "* The Young Turks host Cenk Uygur breaks it down.

  • # Scandal
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