The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Overnight

Lo50° Mostly Clear

Memorial Day

Hi76° Sunny

Monday Night

Lo52° Mostly Clear

Tuesday

Hi81° Sunny

Tuesday Night

Lo55° Mostly Clear

Wednesday

Hi87° Sunny

Wednesday Night

Lo61° Partly Cloudy

Thursday

Hi82° Partly Sunny

Thursday Night

Lo60° Mostly Cloudy

Friday

Hi85° Mostly Sunny

Justice Dept. reaches Bank of America settlement

Send to Kindle
Print This

WASHINGTON, D.C. — The government has reached a $16.65 billion settlement with Bank of America over its role in the sale of mortgage-backed securities in the run-up to the financial crisis, the Justice Department announced today.

The deal calls for the bank, the second-largest in the U.S., to pay a $5 billion cash penalty and provide billions of dollars of relief to struggling homeowners. Bank of America said its cash payouts will total $9.65 billion.

View my options or Sign in