CHART: Biggest bank settlements of all time
Guess which bank is on there twice?
The official settlement between the U.S. Department of Justice and BofA came in at $16.65 billion, resolving claims over toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans sold to Fannie Mae and Freddie Mac.
In July, Citigroup officially announced a $7 billion dollar settlement with the U.S. Department of Justice, several state attorneys general, and the Federal Deposit Insurance Corporation to settle residential mortgage-backed securities and collateralized debt obligations after industry whispers that the bank was nearing a resolution.
And back in November 2013, mega bank JPMorgan Chase signed an agreement with government agencies to end all existing legacy mortgage-backed securities issues for $13 billion.
But this chart from Reuters puts its best, ranking the biggest bank settlements in history. Which bank is on the biggest settlement chart twice? JPMorgan.