Explosive allegations in BofA hearing over $8.5B MBS settlement

SEC and DOJ Civil Investigations, Lawsuits and Settlements of Financial Crisis Cases August 2017. CFPB: [TOP TEN]"Republicans want to sideline this regulator, but it may be too popular" (NYT, 8/31/17) "Republicans for Richard Cordray" (WSJ, 8/11/17) July 2017. CFPB: "Trump appointee wants to delay rule that lets consumers bring class-action suits against banks" (LAT, 7/18/17)

According to Reuters, the final witness took the stand in a trial involving Bank of America’s (BAC. scheduled witness in a long-running case over whether the deal should be approved. "My opinion is.

BofA’s $8.5B Settlement Deal Opposed. Bank of America Corporation ‘s ( BAC) $8.5 billion mortgage settlement deal is facing opposition from New York’s attorney general ( AG ), Eric Schneiderman. According to the AG, the compensation that BofA is giving to the investors is inadequate compared to the losses incurred by them.

UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA MAINE STATE RETIREMENT SYSTEM, individually and on behalf of all others similarly situated, Plaintiff, v. COUNTRYWIDE FINANCIAL CORPORATION, et al., Defendants. Case No. 2:10-CV-0302 MRP (MANx) ORDER DISMISSING BANK OF AMERICA CORPORATION AND NB HOLDINGS CORPORATION I. INTRODUCTION

Monday Morning Cup of Coffee: Investors keep sights on real estate RealEstate Babble (@RealEstateBabbl) | Twitter – The latest Tweets from RealEstate Babble (@RealEstateBabbl). Keep up on what’s happening in real esate, mortgages, and politics of owning real estate. Re-tweet if you want. California

BofA’s $8.5B Settlement Deal Opposed.. The settlement took place between 22 investors who suffered significant losses for their investments in mortgage backed securities (:MBS) that were sold.

Morgan Stanley is the latest firm to settle federal and state probes concerning "deceptive" handling of mortgage-backed securities (MBS). This settlement, which totals $3.2 billion, will be the fourth multi-billion dollar deal to be struck among the largest U.S. banking institutions for their MBS practices.

BofA Article 77 hearing adjourned until mid-November. Those hoping for an imminent resolution to Bank of America’s ( BAC -1.1%) $8.5B MBS settlement – or even for a complete record of the Article 77 hearing in order to handicap the outcome – will have to wait. Judge Kapnick has adjourned the hearing until November 14,

Bank of America agreed to establish a Settlement Fund of $27.5 million from which settlement class members will receive settlement checks or account credits. The amount of your check or credit was based on the number of Settlement Class Members and the amount of Relevant Overdraft Fees each Settlement Class Member paid.

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