Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Make a sustaining gift today to support local journalism!

Bank Of America Agrees To Nearly $17 Billion Settlement

The Justice Department announced today that Bank of America has agreed to pay $16.65 billion to settle allegations that the bank — and companies it later bought — sold risky, mortgage-backed securities before the financial crisis.

Most of the loans at issue were sold by Countrywide Financial and Merrill Lynch before Bank of American bought the companies during the 2008 financial crisis. The settlement is the largest single settlement by a company in U.S. history.

Derek Thompson of The Atlantic, joins Here & Now’s Jeremy Hobson

Guest

Copyright 2021 NPR. To see more, visit https://www.npr.org.

You make NHPR possible.

NHPR is nonprofit and independent. We rely on readers like you to support the local, national, and international coverage on this website. Your support makes this news available to everyone.

Give today. A monthly donation of $5 makes a real difference.