BofA, Countrywide Settle Remnants Of RICO Class Action

Law360, Chicago (August 13, 2013, 7:49 PM EDT) -- Bank of America Corp. and its Countrywide Financial unit have reached a deal resolving what remained of a racketeering class action brought by a married couple who claimed they were deceived into taking out a subprime loan that ultimately dragged their house into foreclosure, according to court documents filed Tuesday in California federal court.

U.S. District Judge Susan Illston signed an order dismissing the case with prejudice, which indicated that plaintiff Manuel Cabrera entered an undisclosed agreement with the defendants resolving his remaining claims.

Julio J....
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