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The latest business and finance news from around the world, on the BBC

The latest business and finance news from around the world, on the BBC.

World Business Report: Bank of America Agrees Record $16.7 billion Mortgage Settlement

21/08/2014

Bank of America Agrees Record $16.7 billion Mortgage Settlement

BBC World Service - World Business Report, Bank of America Agrees Record $16.7 billion Mortgage Settlement

Bank of America agrees to pay record $16.7bn for misleading investors over loan quality.

Bank of America agrees to pay a record $16.7bn for misleading investors over the quality of mortgages and Russia's consumer watchdog announces checks on McDonald's restaurants.

Bank of America has agreed to pay a record $16.7bn for misleading investors over the quality of mortgages it sold.   The loans were sold by Countrywide Financial and Merrill Lynch before Bank of America bought them in 2008, at the height of the financial crisis.  

Russia's consumer watchdog has announced unscheduled checks on McDonald's restaurants across the country. The move is part of an investigation into food standards and comes after the watchdog temporarily shut four McDonald's restaurants in Moscow. 

Also on the programme, in less than a months' time, the people of Scotland will vote on whether to remain part of the United Kingdom. Polls suggest the biggest group who remain undecided are women, so we hear how supporters of independence have been trying to win the female vote.

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Bank of America Agrees Record $16.7 billion Mortgage Settlement

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