Bank of America has agreed to pay $8.5 billion to more than 20 large investors including MetLife, BlackRock and the Federal Reserve Bank of New York, to settle claims related to losses on mortgage securities bought before the housing bubble burst, The Wall Street Journal reports. The payment exceeds the total profits of the Charlotte, N.C., bank since the financial crisis began in 2008. Cord Moving and Storage along with the entire moving industry hold their breath on how this will impact the housing market throwing the relocation industry into another downturn that has shown a recent surge in activity.
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