Justice Department, Department of Justice, civil settlement, toxic mortgages, Bank of America, BofA, Merrill Lynch, Countrywide Financial

News outlets are reporting that the U.S. Department of Justice and Bank of America are near agreement on a record civil settlement for actions arising out of the toxic mortgages, which significantly contributed to the financial crisis in the last decade.  Reports indicate that BofA will pay between $16 and $17 billion to settle investigations […]

DOJ and JP Morgan Chase Agree to $13 Billion Settlement over Mortgage Practices

The United States Department of Justice and JP Morgan Chase have agreed to a settlement of several investigations of the bank resulting from risky mortgage practices. The settlement results in fines, penalties, and monetary amounts totaling $13 billion. This is the largest settlement that a single company has ever paid to the U.S. government. The […]

DOJ and JP Morgan Chase Nearing Agreement on $13B Mortgage Fraud Penalty

Numerous reports state that the U.S. Department of Justice and JPMorgan Chase are nearing agreement on a civil settlement requiring the bank to pay $13 billion in penalties, fines, and compensation for the bank’s involvement in mortgage fraud stemming from the financial panic of 2008. The amount reportedly breaks down into three categories.  First, there […]