CalPERS Receives $249M Settlement From Bank of America Over Bad Investments
On Monday, CalPERS announced that Bank of America has paid $249.3 million as part of a settlement over bad mortgage securities purchased by the pension fund during the housing market crash. CalPERS said it has now recovered more than $500 million from such investments.
- "CalPERS Gets $249 Million in Bank of America Mortgage Settlement" (Kasler, Sacramento Bee, 11/3).