Editorial Board

Questions About the Bank of America Deal

The nearly $17 billion Bank of America settlement is impressive but it raises several big questions, including: Where is all that money going?
Brian Moynihan should be happy. As for everyone else ...

The U.S. Justice Department's $16.7 billion settlement with Bank of America Corp. is a big win. Prosecutors deserve praise for extracting the largest civil settlement with a single entity in U.S. history, as well as for forcing the bank to admit to numerous shortcomings in creating, packaging and selling defective home loans.

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