The consent agreements the bailed-out bankers (B.O.B.s), the feds and the states are largely as had been promised. One big surprise, however, is that the B.O.B.s would now be allowed to systematically overcharge borrowers and steal their homes. Seriously.
Billions of dollars in penalties are piling up in banks' mortgage settlements, but no one is being held accountable and the public is being deprived of details of the wrongdoing, William D. Cohan writes in the Street Scene column. Read Post
Bank of America has agreed to pay the U.S. government $16.65 billion to end a mortgage probe over subprime mortgages sold before the financial crisis. This is a record penalty paid by a U.S. bank. Shares of Bank of America are tradi... Read Post