B of A to Pay Millions to Homeowners

B of A to Pay Millions to Homeowners

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LAS VEGAS -- Bank of America is shelling out millions to pay homeowners duped by Countrywide Financial.

In 2008, Bank of America bought Countrywide. Now the bank will pay $108 million to settle federal charges that Countrywide collected fees they should not have collected from 200,000 borrowers facing foreclosure.

The Federal Trade Commission says all of the money will be used to reimburse borrowers. There's more information about those funds on the FTC's website.

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