The US-Justice has aufgebrummt a record fine of $ 16.65 billion the United Bank Bank of America. The reason: risky mortgage transactions before the financial crisis. The shares of the bank rose.
Because dubious transactions with real estate loans before the financial crisis pays the second-largest bank in the United States, the Bank of America, a record fine. She accepted a payment of nearly $ 17 billion (12.5 billion euros), as announced on Thursday. This is the highest ever paid by a bank penalty in the USA
The U.S. authorities accuse the Bank of America -., As well as a number of other banks – before, bad credit backed by low-income homeowners to financial products bundled, provided with a good credit rating and have the buyer so duped. As of 2007, more and more low-income homeowners in the USA have their loans because of rising interest rates can no longer pay off, while the bad loans were bundled into securities and passed from bank to bank as an investment.
After the bankruptcy of the U.S. investment bank Lehman Brothers in September 2008 triggered these CDO securities mentioned in a chain reaction from a global financial crisis. In the United States many people have had their homes forcibly auctioned or remained seated on high debt, while the purchased property lost considerable value. Investors lost with the CDO investments billions one.
The Bank of America and the Justice Department had negotiated months on the comparison. The House wanted money, media reports initially pay much less, namely $ 13 billion. Mid-June were the negotiations so shortly before the failure.
The Bank of America, which acquired the property financier Countrywide in 2008, had for wrongful evictions and the sale of bad real estate loans so far been more than $ 50 billion to pay fines . The penalties have the profits of the Bank eaten since the beginning of the year
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