{"id":37935,"date":"2014-11-05T01:11:48","date_gmt":"2014-11-05T00:11:48","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/calpers-receives-249-3-million-from-bank-of-america-mortgage-backed-securities-settlement\/"},"modified":"2014-11-05T01:11:48","modified_gmt":"2014-11-05T00:11:48","slug":"calpers-receives-249-3-million-from-bank-of-america-mortgage-backed-securities-settlement","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/calpers-receives-249-3-million-from-bank-of-america-mortgage-backed-securities-settlement\/","title":{"rendered":"CalPERS Receives $249.3 Million from Bank of America Mortgage-backed Securities Settlement"},"content":{"rendered":"<p>The California Public Employees\u2019 Retirement System (CalPERS) has received $249.3 million in damages from Bank of America, the result of a federal investigation settlement announced in August by California Attorney General Kamala Harris.<\/p>\n<blockquote><p>This puts CalPERS total recovery on losses the Pension Fund sustained from investments in mortgage-backed securities at more than $500 million.<\/p><\/blockquote>\n<p><em>&#8220;This is money that rightfully belongs to our members for their long-term retirement security,&#8221;<\/em> said Anne Stausboll, Chief Executive Officer for CalPERS. <em>&#8220;We\u2019re glad that those who misled investors about the risks of mortgage-backed securities continue to compensate our members for their losses. We thank the California Attorney General&#8217;s Office and the U.S. Department of Justice for their diligent efforts.&#8221;<\/em><\/p>\n<p>Bank of America came under federal criminal investigation over its role in the 2008 financial crisis due to its misrepresentation of mortgage-backed securities it sold, along with those securities sold by two companies it acquired in 2008, Merrill Lynch and Countrywide Financial.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The California Public Employees\u2019 Retirement System (CalPERS) has received $249.3 million in damages from Bank of America, the result of a federal investigation settlement announced in August by California Attorney General Kamala Harris<\/p>\n","protected":false},"author":20,"featured_media":37933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1671,1841,1651,1437,2094,2007],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/37935"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=37935"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/37935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/37933"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=37935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=37935"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=37935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}