Bank of America Corp.'s $16.65 billion settlement announcement, and the tailing off of the government's enforcement actions, promises to affect a swath of top-tier Wall Street firms. But lawyers at the banks' primary outside counsel said that work continues to flow.
August 25, 2014 at 12:00 AM
1 minute read
With Bank of America Corp.’s $16.65 billion settlement announcement Thursday over the marketing and sale of subpar residential mortgage-backed securities, prosecutors have closed out the largest remaining government enforcement actions stemming from the financial crisis.
The tailing off of the government’s actions promises to affect a swath of top-tier Wall Street firms, where the investigations and litigation have generated enormous revenues for the past two years.
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