$13 billion offered by an American bank to solve mortgage issues
The Wall Street Journal has recently reported that the Bank of America Corp has given an offer of an amount of $13 billion to settle the problems in a the mortgage securities that have been sold by the bank. The report has been published so that people who are familiar with the scenario get aware of the present situation of the matter.
Last Tuesday the bank representatives had a meeting with the justice department in US. However in the journal, the report stated that no further details about the deal have been discussed off. People who are aware of the matter know that the Bank of America Corp have already previously offered an amount of $12 billion so that the matter can be sorted out.
A portion of amount was said to be given to help the homeowners who are struggling at present. The Wall street journal in their report mentioned that the justice department have suggested for an amount on $17 billion meeting the settlement needs. The representatives of the Bank of America Corp are looking forward to clear the mortgage problems as fast as possible. The situation has been hanging in from a lot of time, and the officials look forward in solving it.
Source: Mint
