Bank of America Shares Slide 1.5% on Rumor of RMBS Probe
Shares of Bank of America (NYSE: BAC) are down 1.5 percent in Friday's trading following a report from Bloomberg that U.S. prosecutors are seeking $13 billion or more from the company in a residential mortgage-backed security probe.
Tom Schoenberg's sources, who asked not to be named as the negotiations are private, said a settlement could be reached in the next two months.
The rumor comes just a month after the company paid $9.5 billion to settle claims from the Federal Housing Finance Agency.
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