Bank of America to Pay $2.43 Billion to Settle Suit Over Merrill DealQuicklink submitted by Sheila Samples Permalink
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|Seeking to unload one of its heaviest burdens from the financial crisis, Bank of America announced on Friday that it would pay $2.43 billion to settle litigation that had accused the bank of deceiving investors in the acquisition of Merrill Lynch. The legal woes from that deal and the bank's acquisition of the mortgage lender Countrywide Financial earlier in the financial crisis have dogged Bank of America as it tries to turn itself around.|
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