Bank of America is Central Florida’s second-largest bank, with $5.5 billion in deposits, 71 branches and market share of 17.1 percent, according to the Federal Deposit Insurance Corp.
ONLY $108M? who gets this money, where does it go, and how does it make the affected home owners whole?
Does it help anyone that has already been foreclosed upon and has a deficiency settlement payable to bank of America?
What recourse (if any) is available to the individual that was affected?
Was this a quick solution by BofA to settle this issue to avoid the suits by consumers which would have likely cost them more?
I am not sure I see a benefit in this case other than by the FTC….