Finally, Relief for Homeowners: BofA Settles Predatory Lending Suit: Tech Ticker, Yahoo! Finance
1. Agrees to $8.6B predatory lending settlement
2. Announces earnings of $0.15 (68% below estimates)
3. Announces 50% cut in dividend
4. Will issue $10B in new common stock
I knew it was too ambitious to expect them to maintain the dividend.
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