Bank of America Mortgage Bond Settlement Upheld
A New York state appeals court ruled on Thursday that it has approved, in its entirety, Bank of America Corp.’s $8.5 billion settlement with mortgage securities investors.
With the ruling, Manhattan’s Appellate Division has most likely resolved one of the bank’s last and largest legal liabilities stemming from the 2008 financial crisis.
As Reuters points out, this settlement is separate from Bank of America’s $16.5 billion mortgage settlement last year with federal and state authorities.
Image via flickr/Mike Mozart