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The Feds Are Going After Angelo Mozilo -- Bank of America braced for $17bn settlement over mortgages case

Countrywide Financial Corp. co-founder Angelo Mozilo hasn’t entirely escaped prosecutors’ wrath for his company’s risky lending. A U.S. government task force wielding an innovative legal strategy plans to bring a civil case against him over the excesses of the subprime-mortgage boom. 975 more words

Trade

BofA to Pay $16.65 Billion to End U.S. Mortgage Probes

By: Tom Schoenberg, Hugh Son and David McLaughlin

Bank of America Corp. will pay $16.65 billion to end federal and state probes into mortgage bond sales, the harshest penalty yet related to loans that fueled the 2008 financial crisis, the Justice Department said. 527 more words

Law