DOJ reaches $17B Bank of America settlement

The Justice Department on Thursday announced that it has struck an almost $17 billion deal with Bank of America to settle government charges over toxic mortgage-backed securities sold to investors in the years leading up to the 2008 financial crisis.
The settlement includes a record $9.65 billion fine and about $7 billion in aid for homeowners still struggling to make their mortgage payments and for potential buyers who have had trouble finding financing for new home loans. More on Politico here.

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