The NCUA said Tuesday that it has chalked up a $165 million win against Wall Street, reaching a settlement with Bank of America and some of its subsidiaries over residential mortgage backed securities losses at failed corporate credit unions.

Bank of America did not admit fault as part of the settlement, the NCUA said in its announcement.

The NCUA had threatened to go to court if the two parties failed to resolve claims involving the RMBS offerings.


Debbie Matz, NCUA board chairman, told HousingWire, “These settlements and our ongoing lawsuits further NCUA’s goal of minimizing the losses of the corporate crisis and cutting future costs to credit unions.”