There's been yet another settlement for Bank of America: It agreed to pay $55 million to employees of Countrywide, which accused the bank of various breaches regarding their pensions. The L.A. Times notes the plaintiff attorneys are happy with this; before legal fees, it would provide about $1,000 for each Countrywide employee.

This hasn't generated the same kind of press that the SEC settlement has generated. And it does allow the bank to put the suit behind it, but it was at a price. While the bank did not admit any guilt, it may have allowed some critics of the Countrywide deal, to argue that it inherited a very expensive problem, among others.   

For more:
- here's the article

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