FEB 10, 2012 - 8:00 am
Bloomberg noted in a story today (2/10/12) that hashing out the $25 billion settlement reached by Bank of America, JPMorgan Chase and three other U.S. banks with 49 states required missing some football.
According to three people involved in the discussions, Bloomberg said bank executives, state officials and U.S. Housing Secretary Shaun Donovan worked frantically over Super Bowl weekend. The negotiations ran down to the wire the night before the agreement was announced, Bloomberg notes.
The result was what the U.S. called the largest federal-state civil settlement in the nation’s history, ending a probe of abusive foreclosure practices stemming from the collapse of the housing bubble.
To read the full Bloomberg story click here.
Previously on monitordaily.com: Five Largest Mortgage Servicers Agree to $25B Settlement, published February 9, 2012
No tags available
Though Bill Stephenson, CEO and chairman of the executive board at De Lage Landen, has a list of accomplishments that would impress even the industry’s greatest, it is not his background in finance and leasing, his experience helping to build... read more
The first transcontinental railroad was completed in May 1869, marked by a ceremonial “last spike” at Promontory Summit in Utah. Today, 145 years later, there are hundreds of rail lines throughout the U.S. supporting the American economy. Railroads haul products... read more