Respectfully submitted by Lawrence E. Rafferty (rafflaw)-Weekend Contributor
It seems that a week doesn’t go by without news of the latest Big Bank agreeing to pay billions in a settlement with the government over their past and continuing abuses concerning mortgages. This past week was no exception.
“Preliminary reports say that a $16 to $17 billion settlement will soon be announced between the Justice Department and Bank of America. That would break the record for the largest bank settlement in history, set less than a year ago by a $13 billion agreement between Justice and JPMorgan Chase.” Crooks and Liars
Sixteen billion dollars is not chickenfeed! However, as we have learned in the many past settlements, the dollar amounts can be a little deceiving. Continue reading “Bank of America Escapes Jail… Again”