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On April 25, 2016, the Federal Home Loan Bank of Seattle agreed to a $190 million settlement with Bank of America in connection with multiple lawsuits filed in 2010 stemming from the sale of hundreds of millions of dollars of RMBS.
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On April 25, 2016, the Federal Home Loan Bank of Seattle
("FHLBS") agreed to a $190 million settlement with Bank
of America in connection with multiple lawsuits filed in 2010
stemming from the sale of hundreds of millions of dollars of RMBS.
FHLBS alleged that Bank of America made misstatements or omissions
in connection with the issuance of the RMBS in violation of the
Washington State Securities Act. Additional details of the
settlement are not publicly available.
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