Market Overview

Bank of America Shares Slide 1.5% on Rumor of RMBS Probe

Share:
Related BAC
New ETFs Hedge Interest-Rate Risk
Fast Money Picks For March 3: General Motors, Coca-Cola, Cisco, Bank Of America
Citigroup (C) Sheds OneMain for $4.25B to Springleaf - Analyst Blog (Zacks)

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.

Posted-In: Bloomberg Tim SchoenbergNews Rumors Legal

 

Related Articles (BAC)

Around the Web, We're Loving...

Get Benzinga's Newsletters