FDIC Challenges BofA's Proposed $8.9B Mortgage Settlement

August 31, 2011

The Federal Deposit Insurance Corp. has filed an objection to Bank of America's proposed $8.5 billion mortgage-bond settlement to resolve claims from investors in Countrywide Financial. As the receiver for failed banks, the FDIC owns securities covered by the settlement and is pushing for more information to adequately evaluate the proposal.

Source: "FDIC Challenges BofA's Proposed $8.9B Mortgage Settlement," Dallas Business Journal (08/30/11)

©2011 Information, Inc.

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