Bank of America

In August 2014, the DOJ announced that it had reached a $16.65 billion settlement with Bank of America, resolving federal and state claims relating to financial fraud leading up to and during the financial crash.

The bank “acknowledged that it sold billions of dollars of RMBS [Residential Mortgage Backed Securities] without disclosing to investors key facts about the quality of the securitized loans.

The bank has also conceded that it originated risky mortgage loans and made misrepresentations about the quality of those loans to Fannie Mae, Freddie Mac and the Federal Housing Administration.”