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  • WASHINGTON, Aug 21- Bank of America Corp has reached a $16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities. Bank of America said the accord is expected to reduce third-quarter earnings by about $5.3 billion before taxes, or about 43 cents per share after taxes.

  • Bank of America settlement likely to benefit few Thursday, 21 Aug 2014 | 12:40 AM ET

    WASHINGTON— Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds— $7 billion of it geared for consumer relief— offers a glint of hope for desperate homeowners. "It is certainly better than nothing," said Bruce Marks, chief executive of the nonprofit Neighborhood Assistance Corporation of America.

  • Why Bank of America deal might not cost it $17B Wednesday, 20 Aug 2014 | 2:30 PM ET

    WASHINGTON— How much will Bank of America's expected $17 billion mortgage settlement cost the company? Most of the problem loans were sold by Merill Lynch and Countrywide Financial before Bank of America bought them during the 2008 financial crisis.

  • APNewsBreak: B ofA reaches $17B settlement with US Wednesday, 20 Aug 2014 | 2:16 PM ET

    WASHINGTON— How much will Bank of America's expected $17 billion mortgage settlement cost the company? Most of the problem loans were sold by Merill Lynch and Countrywide Financial before Bank of America bought them during the 2008 financial crisis.

  • US won't reveal records on health website security Tuesday, 19 Aug 2014 | 3:17 AM ET

    WASHINGTON— After promising not to withhold government information over "speculative or abstract fears," the Obama administration has concluded it will not publicly disclose federal records that could shed light on the security of the government's health care website because doing so could "potentially" allow hackers to break in.

  • Aug 6- Bank of America Corp is close to a deal with the U.S. Department of Justice to pay more than $16.5 billion to end investigations into mortgage securities that the bank and companies it bought sold in the run-up to the financial crisis, a person familiar with the matter said on Wednesday.

  • The SEC's Office of Inspector General started the investigation after Reuters published information about the regulator's decision, taken in a closed-door meeting on Sept. 12, 2013, to settle its probe into JPMorgan Chase& Co's massive London Whale trading loss. The SEC made its decision public on Sept. 19, 2013.

  • WASHINGTON- More than 46,000 drug offenders will be eligible for early release from federal prison under an amendment to sentencing guidelines passed on Friday by a U.S. judiciary agency- unless Congress blocks the change. Congress has the authority to block both amendments by Nov. 1 of this year.

  • Department of Justice official on Wednesday issued a thinly veiled threat to Bank of America Corp, saying that banks under investigation for shoddy mortgage securities they sold before the financial crisis must admit to misconduct and pay substantial penalties or face lawsuits from the agency.

  • WASHINGTON, July 14- Citigroup Inc has agreed to pay $7 billion to resolve claims it misled investors about shoddy mortgage-backed securities in the run-up to the financial crisis, in a deal that includes the largest civil fraud penalty ever levied by the U.S. Justice Department.

  • July 14- Citigroup Inc has agreed to pay $7 billion to settle a U.S. investigation into shoddy mortgage-backed securities the bank sold in the run-up to the financial crisis, including the largest civil fraud penalty ever levied by the U.S. Justice Department.

  • July 14- Citigroup Inc said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. Citigroup said it took a related pre-tax charge of about $3.8 billion in the second quarter. Citigroup's shares were up 3.9 percent at $48.82 in premarket trading on Monday.

  • July 14- Citigroup Inc said it agreed to pay $7 billion to settle a U.S. government investigation into mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis. Citigroup said on Monday it would pay $4.5 billion in cash and provide $2.5 billion in consumer relief. Citigroup's shares were up 1.4 percent at $47.65 before the bell.

  • NEW YORK, July 13- Citigroup agreed to pay $7 billion to resolve a U.S. government investigation into shoddy mortgage-backed securities the bank sold in the run-up to the 2008 financial crisis in a settlement set to be announced on Monday, sources said.

  • Bank of America has discussed paying about $12 billion to settle the probes, including a portion to help struggling homeowners, while the Justice Department had suggested a $17 billion settlement, sources said.

  • July 3- SunTrust Banks Inc, a large U.S. southeast regional bank, will pay as much as $320 million to resolve a criminal probe into its mortgage unit's mismanagement of a federal program designed to help struggling homeowners avoid foreclosure during the recession.

  • ATHENS, June 25- President Barack Obama's administration will push the U.S. Congress to enact legislation to give European Union citizens the right to sue in the United States if they think their private data has been released or misused, the U.S attorney general said on Wednesday.

  • Is BofA taking a play out of Jamie Dimon's book? Friday, 20 Jun 2014 | 6:13 AM ET
    Brian Moynihan, CEO of Bank of America

    Bank of America has asked the U.S. Attorney General to meet with its chief executive officer in an attempt to resolve differences over a mortgage settlement.

  • Representatives of Bank of America Corp have asked U.S. Negotiators for Bank of America and the Justice Department have not met in more than a week and have no plans to do so after a flurry of meetings did not bring them close to a settlement amount, sources said.

  • ASHEVILLE, N.C., June 11- A federal judge on Wednesday said he would consider dismissing a U.S. Department of Justice lawsuit accusing Bank of America Corp of civil fraud in the sale of mortgage securities that soured during the global financial crisis.