Skip to Content

YES, we are available by phone and email!

COVID-19 MESSAGE

Blog

Bank of America to Reportedly Pay $17 Billion in Mortgage Settlement

August 8, 2014

Reports surfaced this week that Bank of America and the U.S. Department of Justice have reached a tentative deal under which the bank would pay nearly $17 billion to resolve an investigation into its sale of toxic mortgage securities in the run-up to the financial crisis. It would represent the largest amount ever obtained by the Justice Department from a single company.

According to the reports, Bank of America has agreed to pay approximately $9 billion as a cash penalty to the United States Treasury and the remaining $8 billion would come in the form of relief to struggling homeowners. The settlement would bring to an end months of settlement negotiations between the Justice Department and Bank of America, which has already paid more than $50 billion to settle lawsuits by private investors and regulators largely related to its Countrywide Financial and Merrill Lynch units.

Read the Wall Street Journal article.

Free Consultation
Martin & Jones, PLLC logo

“Forest, once again, my family and I thank you for obtaining another settlement on behalf of my Father. It’s almost uncanny that these checks seem to come at very opportune times. This one comes as we are expecting our fourth grandchild. It will provide her some sound footing towards her future college education, plus help Mom and Dad with the medical expenses. Sometimes, I think my Dad is helping you guys with this. Maybe so. Anyway, thank you again for your hard work.”

Martin & Jones, PLLC. Badges
Martin & Jones, PLLC. Badges
Martin & Jones, PLLC. Badges
Martin & Jones, PLLC. Badges
Martin & Jones, PLLC. Badges
Martin & Jones, PLLC. Badges

Contact Our North Carolina Personal Injury Law Firm

for a Consultation for Your Accident or Medical Malpractice Claim

Call us at 800-662-1234
Free Consultation

The law firm you choose makes a difference. If you are the victim of an accident or an illness that someone else caused, the North Carolina personal injury law firm of Martin & Jones has the depth of experience, skills and sensitivity to make your road to recovery as smooth as possible. Whether you have experience with the legal system or have never hired a medical malpractice or personal injury lawyer before, our attorneys and staff will do our best to answer your questions, provide clear advice and prepare you and your family for what to expect. If you would like more information or to meet with one of our attorneys, please fill out the form below or call us at 800.662.1234.