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About U.S. Fairness Department’s biggest municipal settlement actually which have an individual organization, Financial of The united states (BoA) agreed upon August 21 to invest $ million to put so you’re able to people accusations from the federal and state rules enforcement enterprises regarding mortgage-associated swindle when you look at the financial crisis time. This new arrangement follows to the heels away from a couple separate Justice Agencies settlements just last year from overall economy-time ripoff with J.P. Morgan Chase payday loans online Hawai & Co. and you may Citigroup.

Out-of BoA’s overall tab, about $10 mil will go to repay federal and state civil says and you may $eight million so you can individual relief, and additionally dominant protection towards the under water funds, the fresh new funds so you’re able to creditworthy but troubled borrowers, people recommendations, and you may sensible rental houses. Continue reading →