BofA to Pay $16.65 Billion in Historic Mortgage Settlement
The deal includes $9.65 billion paid to various government agencies, including Justice and the SEC, and $7 billion for struggling homeowners.
BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
SEC Enforcement: Kansas Charged With Securities Fraud
In another action, a brokerage firm and its founder were charged with violating net capital requirements and falsifying data in an attempt to mislead examiners.
SEC Enforcement: Smith & Wesson Fined $2 Million for Bribery
In more actions, a judge ordered Bank of America to pay $1.27 billion for a mortgage "hustle."
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
Citigroup Profit Falls 96% on Costs to End Mortgage-Bond Probe
The third-biggest U.S. bank, said second-quarter profit tumbled 96% on $3.7 billion in costs tied to a mortgage-bond settlement with U.S. authorities.
New Hire Roundup: Janus Capital Adds Scholes, Alankar
Also in new hires, the SEC announced that Thomas Krysa has been named associate regional director for enforcement in its Denver office.
New Hire Roundup: SEC Adds 2 Judges, 3 Attorneys
Also in new hires, Nuance Investments welcomed Chad Baumler as portfolio manager.
New Hire Roundup: CFTC Names Goelman Enforcement Chief
Grace Vogel joined PwC’s financial services regulatory practice, and the Hedge Fund Association named three women to leadership positions.
SEC Enforcement: Advisor Barred for Hiding Astrology-Based Investment Strategy
Meanwhile, the SEC charged a California-based securities salesman for selling millions of dollars in oil-and-gas investments without being registered.