Tuesday, August 30, 2011

FDIC objecting to Bank of America settlement...

Bank of America (BAC) is once again a stock to watch, as the FDIC objects to B of A's $8.5 billion mortgage settlement.  The agency is objecting as an investor rather than a regulator - it owns securities that would be covered by the settlement because it took over banks that failed during the financial crisis.

The FDIC says its objection is based on the fact that it doesn't have enough information to evaluate it.

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