Thu, 07 Aug 2014 09:41:15 GMT
Bank of America close to $17 billion settlement
Bank of America is
negotiating a settlement with the US Department of Justice around the
16, 17 billion US dollar mark. The record agreement to stop probes
into mortgage-backed bonds could send as much as $9 billion in cash
and the remainder in consumer relief. If this settlement is successful
then it will become the largest in history surpassing the recent
JPMorgan's $13 billion deal.