Bank of America To Settle Probes

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The second-largest bank in the United States may find itself paying over $12 billion to settle government probes.

Bank of America Corp faces probes over shoddy mortgages prior to the financial crisis. It is reported that at least $5 billion of the $12 billion settlement would go toward consumer relief.

Neither Bank of America or the United States Department of Justice agreed to comment on the settlement.

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Image by Brian Katt via Wikimedia Commons.