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Bank of America to Pay $16.5B Fine

BofA to Pay $16.5B Fine

The long-awaited deal between the Justice Department and Bank of America over mortgage securities could be announced as early as Thursday and is now expected to cost the bank at least $16.5 billion. Part of the deal will be $9 billion in cash to the DOJ, and the rest would go for assistance to homeowners.

[reuters]

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