BofA Agrees To Pay $335M To End Mortgage-Tracking Claims

Law360, Los Angeles (October 30, 2015, 10:07 PM EDT) -- Bank of America Corp. has agreed to pay $335 million to settle a class action accusing it of intentionally misleading investors about widespread issues with its system for keeping track of mortgages, the bank disclosed in a securities filing Friday.

Bank of America says it has reached a $335 million settlement of claims of misleading mortgage investors. (Credit: AP) The bank said in a 10-Q form that it had reached an agreement with the Pennsylvania Public School Employees' Retirement System, the lead plaintiff in the suit over the electronic registry Mortgage Electronic Registration Systems, to which banks can give technical title...

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