mortgage-backed securities

Bank of America to pay $8.5 billion to investors who lost money in the crisis

June 29, 2011 - 7:05am | Banks and internet banks | News

Bank of America nears to settle claims from its powerful investors to pay them $8.5 billion, according to the sources familiar with the situation. These investors lost their money on mortgage-backed securities.

Such a deal would encourage investors to seek compensation from other lenders like Wells Fargo & Co and JPMorgan Chase & Co, analysts believe.

Bank of America | investor | JPMorgan Chase | mortgage-backed securities | Wells Fargo

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