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>> UNITED STATES OF AMERICA Latest News

MAR 08, 2013 - Washington Business Journal

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Bank of America pays $41B to settle mortgage-related lawsuits

In the past three years, the largest banks in the United States paid more than $60 billion in settlements related to lawsuits stemming from their mortgage activities and the credit crisis in general. A study by SNL Financial showed Bank of America paid by far the largest amount in settlements at $41.62 billion. Despite that hit, reportable net income at Bank of America rose 28 percent in 2012 to $12.33 billion, up from $9.64 billion the previous year. Bank of America ranks No. 3 on the Kansas City…

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