Bank Of America, Lawsuit Settlement | featured news

Bank of America agreed on Monday to pay more than $10 billion to Fannie Mae to settle claims over troubled mortgages that soured during the housing crash, mostly loans issued by the bank's Countrywide Financial subsidiary.

Bank of America announced on Friday that it would pay $2.43 billion to settle a class action lawsuit related to its acquisition of Merrill Lynch.

The Justice Department is expected to announce Wednesday a settlement with Bank of America Corp. that resolves accusations that its Countrywide Financial unit engaged in discriminatory mortgage-lending practices, according to a person familiar with the matter.

Bank of America Corp is close to a deal to pay $8.5 billion to settle claims from investors that lost money on mortgage-backed securities, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.