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Obama's Justice Department continues to quietly do its job...

By: oldCADuser in FFFT | Recommend this post (0)
Thu, 22 Dec 11 12:26 AM | 53 view(s)
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U.S. in $335 mln settlement with B. of A.

Dec. 21, 2011, 3:18 p.m. EST

WASHINGTON (MarketWatch) -- The Justice Department on Wednesday announced a $335 million settlement with Bank of America Corp. (NYSE:BAC) over alleged discriminatory lending practices by its Countrywide Financial Corp. unit. The settlement, the largest of its kind, involves 200,000 qualified African-American and Hispanic borrowers between 2004 and 2008, according to Justice Department Attorney General Eric Holder. Bank of America acquired Countrywide in 2008. Other regulators participating in a settlement press conference included Housing and Urban Development Department Secretary Shaun Donovan, Illinois Attorney General Lisa Madigan and Federal Reserve Governor Sarah Bloom Raskin.

http://www.marketwatch.com/story/us-in-335-mln-settlement-with-b-of-a-2011-12-21?siteid=

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