BofA Settles with NCUA and 2 Dow Movers for Wednesday

Bank of America Corporation (NYSE:BAC): Current price $11.80

The National Credit Union Administration has reached a resolution with Bank of America and certain of its subsidiaries for $165 million for losses connected with purchases of residential mortgage-backed securities by failed corporate credit unions. This settlement with Bank of America is subsequent to three similar agreements with Citigroup (NYSE:C), Deutsche Bank (NYSE:DB) and HSBC Holdings (NYSE:HBC) which total $170.7 million, according to the Administration, which added that BofA did not admit fault as part of the settlement.

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