Forum Post: Breaking News: Bank of America settles mortgage suit for $315 mln
Posted 12 years ago on Dec. 6, 2011, 12:08 p.m. EST by CriticalThinker
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NEW YORK (AP) Bank of America has agreed to pay $315 million to settle claims by investors that they were misled about mortgage-backed investments sold by its Merrill Lynch unit.
The settlement was disclosed in court papers filed late Monday in U.S. District Court in Manhattan and requires the approval of a judge.
The class action lawsuit was led by the Public Employees' Retirement System of Mississippi pension fund.
The settlement represents another attempt by Charlotte, N.C.-based Bank of America Corp. to put its legal issues behind it. Just in the first half of the year, the bank put up $12.7 billion to settle similar claims from different groups of investors.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
Bank Of America Sends Internal Email Exposing Where The "Occupy" Movement Is Hurting It Most
http://www.zerohedge.com/news/bank-america-sends-internal-email-exposing-where-occupy-movement-hurting-it-most
-12/06/2011-
While the general media may be ignoring the latest peculiar twist on the "Occupy" theme, or in this case the "occupyourhomes.org" http://occupyourhomes.org/ ...Bank of America is taking it quote seriously. As a reminder, "Tuesday, December 6th is the National Day of Action to stop and reverse foreclosures. The Occupy Homes movement is holding actions around the country in support of homeowners and people fighting to have a home. Find an event near you and join in our day of action tomorrow!.
There are actions happening in over 20 cities nationwide. Events are taking place in Brooklyn, Buffalo and Rochester New York; Los Angeles, Oakland, San Francisco, San Diego, San Jose, Petaluma, Sacramento, Paradise and Contra Costa California; Lake Worth, Florida; Atlanta, Fayetteville, and DeKalb Georgia; Chicago, Illinois; Bloomington, Indiana; Minneapolis, Minnesota; Cleveland, Ohio; Denver, Colorado; Detroit and Southgate Michigan; St. Louis, Missouri; Portland, Oregon; and Seattle, Washington."
And if you have not heard about today's protest on the conventional media that is understandable: as BAC says internally, this event "could impact our industry." Here are the specific warnings to BAC "field services" agents: i) Your safety is our primary concern, so do not engage with the protesters; ii) While in neighborhoods, please take notice of vacant BAC Field Services managed homes and ensure they are secured; iii) Remind all parties of the bank’s media policy and report any media incidents.
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http://www.zerohedge.com/news/bank-america-sends-internal-email-exposing-where-occupy-movement-hurting-it-most