Bank of America settles for $16 billion

Yes; that’s billion with a “b”.  It’s the largest U.S. corporate/government settlement in history.  You may remember B of A bought Countrywide Home Loans just before the 2007/2008 mortgage meltdown.  Many of the toxic mortgages that B of A owned and sold came from Countrywide Home Loans which at the time was one of the largest mortgage producers in the country.  This settlement brings B of A’s total toxic mortgage settlement to $60 billion.