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Bank of America Corp Heads For Court Showdown For $8.5 Billion Settlement-Reuters


Monday, 3 Jun 2013 06:09am EDT 

Reuters reported that A long-running fight comes to a head on June 3, 2013, when court proceedings begin over an $8.5 billion settlement between Bank of America Corp and investors in mortgage securities that turned sour in the financial crisis. Bank of America agreed to the proposed settlement in June 2011 to resolve claims by investors who held bonds issued by mortgage lender Countrywide Financial Corp, which Bank of America bought in 2008.