(Advertisement)

Bank penalty $17 billion

Subprime blame is to cost Bank of America

Posted: August 21, 2014 at 4:59 a.m.

This Tuesday, Jan. 14, 2014 file photo shows a Bank of America sign in Philadelphia. Officials familiar with the deal say Bank of America on Wednesday, Aug. 20, 2014 has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.

Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.

This story is only available from our archives.

(Advertisement)



« Previous Story

Lottery dials back budget projections

The Arkansas Lottery Commission on Wednesday unanimously approved a revised budget that reduces its projection for money raised for scholarships by $3 million to $78.2 mill... Read »

Next Story »

Holder visits Ferguson to ease tensions

U.S. Attorney General Eric Holder (left) talks with Missouri State Highway Patrol Capt. Ron Johnson on Wednesday at a restaurant in Ferguson, Mo., where Holder also visited with customers.

U.S. Attorney General Eric Holder visited Ferguson on Wednesday and met with students, community leaders and f... Read »