On Wed, Jun 29, 2011 at 7:43 AM, The Washington Post <newsletters@email.washingtonpost.com> wrote:
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Breaking News Alert: Bank of America will pay $8.5 billion to settle claims over mortgage-backed securities
June 29, 2011 7:41:53 AM
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NEW YORK — Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.
The Charlotte, N.C., bank says the settlement with 22 investors is subject to court approval and covers 530 trusts with original principal balance of $424 billion.
http://link.email.washingtonpost.com/r/PSLW3N/OJ1X7A/L3AGWN/HOT9ZT/3NUX0/ZH/h
For more information, visit washingtonpost.com
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