DOJ Emerges As Dominant Force In Big Bank Deals

Law360, San Diego (August 22, 2014, 10:46 PM EDT) -- Bank of America Corp.’s nearly $17 billion settlement with the U.S. Department of Justice and other major deals that big banks have reached with the government signal the DOJ is taking a leading role among enforcement agencies in securing hefty payouts from large institutions in connection with selling toxic mortgage-backed securities leading up to the financial crisis, experts say.

The Charlotte, N.C.-based bank on Thursday cut the largest settlement with the government related to the 2008 financial crisis, resolving claims related to subprime mortgage practices at Bank of America and the two companies that it picked up during the meltdown —...

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