Big Bank Fines Over Bad Mortgages, Practices Total $128 Billion Since 2009, But Is That Too Little?

Bank of America is on the verge of finalizing a reported $17 billion settlement with the U.S. government over the packaging and selling of bad mortgages, and it would be the biggest single hit taken by a big bank since the financial crisis.

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Mortgage Settlement Monitor: Bank of America Complying at Fastest Pace

Bank of America has moved at a faster clip than Wells Fargo, JPMorgan Chase and Citigroup in meeting obligations to help borrowers facing possible foreclosure under last year’s $25 billion National Mortgage Settlement. The latest audits credits Bank of America with 97 percent of its required $7.6 billion in consumer relief as of the end of last year.

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