Bank of America Agrees To Pay $8.5 Billion In Housing Crash Settlement

Bank of America Corp has agreed to pay $8.5 Billion to settle lawsuits from investors that lost money on mortgage-backed securities.  The landmark settlement may influence other major banks such as JPMorgan Chase & Co., and Wells Fargo & Co., to settle similar  mortgage claims brought by mortgage bond investors.  The settlement is believed to be the largest single settlement thus far by a bank with regard to the financial crisis often referred to as the “Great Recession.”  The settlement is subject to court approval.

 The law firm of Balkan & Patterson, LLP was founded in 2006 and is headquartered in Boca Raton, Florida, at 601 S. Federal Highway, Suite 302, with offices in Broward County. Mr. Balkan and Mr. Patterson can be contacted at (561) 750-9191. Additional information about Balkan & Patterson, LLP may be obtained from the firm’s website at

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