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.
Read the Bloomberg News report.
Written by Elizabeth Ecker
