Bank of America has reportedly reached an agreement with the U.S. Justice Department to pay between $16 billion and $17 billion to settle investigations into the sale of faulty mortgage securities.
The record-setting deal would top a $13 billion settlement between the government and JPMorgan Chase. The agreement isn’t final, according to various published reports, and neither Bank of America nor the Justice Department has commented. WFAE's Mark Rumsey spoke with Charlotte Observer reporter Deon Roberts, who is following this story.
