NY AG Settles Claims BoA Breached $25B Mortgage Deal

Law360, Los Angeles (October 1, 2013, 10:52 PM EDT) -- Bank of America Corp. said Tuesday it has reached an agreement with New York Attorney General Eric Schneiderman to resolve allegations it violated terms of last year's landmark $25 billion settlement over mortgage servicing practices, as reports swirled that Schneiderman plans to sue Wells Fargo & Co. over alleged breaches of the settlement. 

BoA's agreement with Schneiderman involves updates to its loan-modification processes, including increasing the interactions between the attorney general's office, the bank and housing counselors that are part of the New York Homeowner Protection Program,...
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