There was plenty of fanfare last August when Bank of America agreed to a record $16.7 billion settlement with the Justice Department over dubious mortgage practices. Prosecutors crowed about the deal, which required the bank to provide $7 billion of consumer relief — including such things as loan modifications — over the ensuing four years.
But now that the settlement has faded from the public eye, questions are arising about whether the promised assistance is actually getting to the right people and whether the bank will be allowed to claim credit for consumer relief that far exceeds its actual value.
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