Global Investigations Review - The law and practice of international investigations

Bank of America 2014 - FHFA

By Sarah Kirk

03 July 2014

In March 2014, Bank of America announced a huge settlement with the Federal Housing Finance Agency (FHFA). It agreed to pay US$9.5 billion to resolve litigation stemming from its practices when selling residential mortgage-backed securities (RMBS) to US federal mortgage agencies Fannie Mae and Freddie Mac.