Bloomberg: Bank of America Could Settle for $13 Billion More in Financial Crisis

Bank of America could be on the hook for more than $13 billion to resolve investigations into the lender for its role in the financial crisis, according to a Bloomberg News report

Citing source familiar with the matter, Bloomberg is reporting that Bank of America’s $13 billion settlement would come in addition to $9.5 billion in Federal Housing Finance Agency claims the bank agreed last month to pay. 

If the settlements amount to the additional $13 billion as reported by sources, the total will surpass the settlement agreement agreed to by JPMortgage Chase over similar issues in November. 

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Read the Bloomberg News report.

Written by Elizabeth Ecker

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