"Bank of America, through its top management, engaged in a concerted effort to deceive shareholders and American taxpayers at large," Cuomo said in a statement. "They committed an enormous fraud, and American taxpayers ended up paying billions for Bank of America's misdeeds."
The bank and agency [SEC] agreed to settle the charges for $33 million, but a federal judge rejected the settlement, saying it left too many questions unanswered, punished the very shareholders who were injured and let top executives off the hook. ….The SEC on Thursday announced the bank had now agreed to pay $150 million to settle the charges and agreed to a host of changes in how the company is run
Bank of America said it was pleased with the SEC settlement but "we find it regrettable and are disappointed that the NYAG [Cuomo] has chosen to file these charges, which we believe are totally without merit