For the Wednesday by yourself, the bank additional $20

When Bank out-of The united states Corp. obtained financial monster Countrywide Financial Corp. three years in the past recently, cementing BofA’s condition since the a consumer financial commander, the cost was good measly $2.5 million into the stock.

But the actual rates could easily be ten to fifteen moments you to count pursuing the family financial sustained grand losses not as much as BofA’s ownership additionally the financial agreed to shell out vast amounts of bucks in order to accept lawsuits more crappy money from Nationwide when you look at the housing growth. 4 billion from inside the asked can cost you into tally.

The brand new mounting number made the purchase off Nationwide among by far the most mistaken takeovers regarding reputation of financial, experts state. Read the rest of this entry »