Bank of America Corp (BAC) / DoJ Settlement Expected in Weeks

Mark Melin

Published onApril 25, 2014

Updated on May 13, 2021

Bloomberg is reporting that US prosecutors seek more than $13 billion from Bank of America Corp (NYSE:BAC) to settle federal and state probes into the bank’s opaque mortgage backed securities products that led up to the 2008 financial crisis.

Bank of America Corp (NYSE:BAC) Settlement larger than JP Morgan fine

The settlement could be larger than that with JP Morgan Chase & Co (NYSE:JPM) when an additional $9.5 billion fine from the Federal Housing Finance Agency settlement is considered.

At issue are home loans that were packaged into opaque...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

Bank of America Corp (BAC) / DoJ Settlement Expected in Weeks

Bank of America Corp (NYSE:BAC) Settlement larger than JP Morgan fine

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