The second-largest bank in the United States may find itself paying over $12 billion to settle government probes.
Bank of America Corp faces probes over shoddy mortgages prior to the financial crisis. It is reported that at least $5 billion of the $12 billion settlement would go toward consumer relief.
Neither Bank of America or the United States Department of Justice agreed to comment on the settlement.
Image by Brian Katt via Wikimedia Commons.
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