In business news, Bank of America has reportedly agreed to pay $8.5 billion to settle claims by investors that purchased mortgage securities that soured when the housing bubble burst. The $8.5 billion settlement is the single biggest settlement tied to the subprime mortgage boom and the subsequent financial crisis of 2008.
Bank of America Agrees to Pay $8.5B Settlement in Subprime Mortgage Scandal
HeadlineJun 29, 2011