BofA nears $16-$17 bln settlement with DoJ - WSJ

Wed Aug 6, 2014 4:16pm EDT

Aug 6 (Reuters) - Bank of America Corp is close to a deal with the U.S. Justice Department to pay between $16 billion and $17 billion to resolve allegations of mortgage-related misconduct in the run-up to the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.

The bank has agreed to pay roughly $9 billion in cash to the Justice Department, states and other government entities, with additional money aimed at consumer relief, the Journal reported. (on.wsj.com/1vbZWze) (Reporting by Avik Das in Bangalore; Editing by Maju Samuel)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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