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IPFS News Link • Economy - Economics USA

Why Bank of America is cleaning up its mortgage woes now


With Bank of America's announcing two big legal settlements Monday, it appears the Charlotte-based bank is hustling to clean up its mortgage portfolio ahead of submitting capital plans to government regulators — the so-called stress test which will determine if or when the bank can consider increasing its dividend payments or share buybacks.

Adam O'Daniel, the finance editor for the Charlotte Business Journal, breaks each of the settlements down in a blog post and analyzes what they mean.