What will private whistleblowers collect from Thursday’s $16.65 billion settlement with Bank of America?
That’s one of the lingering questions after the U.S. Department of Justice announced the deal, which resolves claims over Bank of America’s outsized role in the mortgage meltdown. In a press release, the government said a $1 billion portion of BofA’s total payout would resolve three private whistleblower lawsuits. Under the qui tam provisions of the federal False Claims Act, a whistleblower who provides original information can receive as much as 30 percent of the government’s recovery.
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