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BofA reportedly reaches $17B settlement with U.S.
Pittsburgh Post-Gazette: WASHINGTON — Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.
One of the officials, who spoke with The Associated Press on condition of anonymity because the announcement isn’t scheduled until today at the earliest, said the bank will pay $10 billion in cash and provide consumer relief valued at $7 billion.
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