$300,000,000. That's Illinois' share of the nearly $17-billion national settlement with Bank of America.
Illinois Attorney General Lisa Madigan says Illinoisans who believe they were hurt by "shoddy'' mortgages through Bank of America can get help from her office or the bank. A third of the $300-million coming to Illinois will be used for consumer relief, including blight reduction.
The deal between the U.S. Justice Department and Bank of Americawas announced today. It's the largest settlement the Justice Department has reached with a bank over the 2008 mortgage crisis. An independent monitor will oversee the distribution of the funds.
