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

by Yuki Noguchi, NPR

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.

Broadcast Dates

• All Things Considered, January 7, 2013