The government-sponsored mortgage giants had demanded compensation from the Charlotte, N.C., bank for losses on housing-boom loans that produced mass defaults during the financial crisis.
The settlement, announced Wednesday, resolves all claims against Bank of America by the Federal Housing Finance Agency, BofA said. The FHFA is the regulator established as a conservator for Fannie and Freddie when the giant buyers and guarantors of home loans went insolvent during the financial crisis.
BofA already had suffered about $50 billion in losses and legal costs stemming from the mortgage meltdown in 2007 and the global financial crisis that ensued the following year – more financial damage than any other major bank.
But after a long string of settlements, BofA’s stock has…
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Police brutality and reckless shootings of innocent men and women is so far out of control I can’t come up with words for it at this point. Lawlessness by law enforcement officials, and courts that look the other way, rather than prosecute them: what words do we use for that?
Fri Mar 28, 2014 1:37AM GMT
Italians have held a demonstration in the capital to express discontent with US President Barack Obama’s visit to their country.
The demonstrators gathered outside the US Embassy in Rome on Thursday, chanting slogans against the US president.
The protesters criticized Washington for its military policies abroad, accused Obama of being a warmonger, and called on him to stop dividing the world.
On Thursday, Obama met Italian Prime Minister Matteo Renzi to discuss a range of issues including the crisis in Ukraine.
Earlier in the day, Obama met with Italian President Giorgio Napolitano at the Quirinal Palace.
The US president is on a six-day tour to Europe, where he is seeking to…
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