The distribution of a $335M settlement to compensate BofA's (BAC) black and Hispanic customers...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

The distribution of a $335M settlement to compensate BofA's (BAC) black and Hispanic customers over alleged discrimination by Countrywide in its loan practices has hit a snag, with 10% of letters sent to more than 233K presumed victims being returned as undeliverable. Still, when the deal was agreed in December 2011, government officials warned that the payouts could take up to two years.