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Bank Of America To Pay Fannie Mae $11.6 Billion To Buy Back Troubled Loans

Bank of America and Fannie Mae have agreed to settle legal issues stemming from the subprime mortgage crisis. The bank will pay Fannie Mae $3.6 billion in cash and will also spend $6.7 billion to repurchase certain mortgages sold to Fannie Mae.

Big Banks Agree To Pay $8.5 Billion To Settle Foreclosure-Abuse Claims

Some borrowers who were mistreated during foreclosures will receive compensation. The payments will range from hundreds of dollars to $125,000. The agreement ends a case-by-case review of the banks' actions.
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Ticketmaster Goofs Inaugural Ball Tickets Sales

There's been a mix-up involving ticket sales to some events related to the upcoming Inaugural Parade and Ball.


Bank Of America To Pay Fannie Mae $3.6B, Buy Back $6.75B In Mortgages

The agreement resolves claims against the bank about mortgage-backed securities it sold before the housing bust. Many weren't worth what was promised. Also today, BofA and other banks are expectd to settle claims related to alleged foreclosure abuses.

Tax Breaks Extended For Special Interest

Hedge fund and private equity managers came out of the "fiscal cliff" agreement with a better tax setup than many affluent taxpayers. It largely keeps in place a practice that allows them to have their earnings taxed at a capital gains rate rather than at a higher rate for ordinary income.