December 21, 2011
In the News: BofA Settles Claims for $335 Million; Actor Graham Brown Dies and More
- Bank of America Settles Discriminatory Claims for $335 Million
The Justice Department announced Wednesday a $335 million settlement with Bank of America Corp. The agreement resolves accusations that the Countrywide Financial unit of the banking-giant discriminated against qualified African-American and Hispanic borrowers.
The settlement amount will cover the victims of Countrywide’s discriminatory mortgage loans from 2004 to 2007.
- Congressional Deadlock Threatens US Economy
White House economic adviser Alan Krueger said Wednesday morning that the congressional stalemate on extending payroll tax cuts and unemployment tax benefits is a threat to the US economy.
The chairman of the Council of Economic Advisers stressed the economic importance of keeping the 2% payroll tax cut for 160 million workers and emergency unemployment benefits.
Congressional Republicans have neglected to vote on a Senate deal to extend the payroll tax cut for two months.
The Obama administration and party leaders from both sides of Congress say they want the tax cut extended. However, they disagree on how to cover the lost tax revenue from a one-year extension, estimated at $120 billion. That deadlock has set the stage for payroll taxes to rise on Jan 1.
- ‘Sanford & Son’ Actor Graham Brown Dies At 87
Sanford & Son actor Graham Brown died of pulmonary failure last Tuesday, Dec. 13, according to The Root. He was 87.
Brown performed with Minneapolis’ Guthrie Theater, the New York Shakespeare Festival, London’s newly reconstructed Globe Theater and most notably the Negro Ensemble Company.
His big screen credits included Spike Lee‘s Malcolm X and Clockers, as well as The Muppets Take Manhattan. Brown was a resident at the Lillian Booth Actors’ Fund Nursing Home in Englewood, N.J. His daughter, grandson and sister survive him.