‘Bank of America, Wells Fargo See Fines, Actions on Foreclosures’

$20 billion in fines is not enough for killing the global economy

“U.S. regulators may try to extract $20 billion of penalties in a settlement with banks that serviced flawed loans, two people briefed on the talks said this week. Terms of an accord, from regulators led by the Treasury Department and Department of Housing and Urban Development, haven’t been formally presented to banks, according to the people, who spoke on condition of anonymity because the discussions aren’t public.”

read it here:

http://www.bloomberg.com/news/2011-02-26/bank-of-america-wells-fargo-see-fines-actions-on-foreclosures.html

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