A mortgage dispute between Bank of America Corp. and a California couple that led to a $45 million fine against the bank has ended with a settlement that likely trimmed the amount that the bank paid, WSJ Pro Bankruptcy reported. While the exact amount of the settlement isn’t known, bank officials have implied in court hearings that it tops the $6.1 million portion of the fine that Renee and Erik Sundquist were awarded by a bankruptcy judge in March. Consumer-bankruptcy advocates have said the $45 million fine was the largest originating from an individual bankruptcy case. Bankruptcy Judge Christopher Klein called the bank “brazen” and “heartless” in its treatment of the couple as they tried to save their home. He said in his ruling that the fine was meant to be large enough that it wouldn’t “be laughed off in the boardroom.”
