Bank of America Corp (BAC) Near Record Settlement With DOJ

Bank of America Corp (NYSE:BAC) is said to be nearing a $16 billion to $17 billion settlement with the Justice Department to resolve allegations of mortgage-related misconduct in the run-up to the financial crisis. The Wall Street Journal cites people familiar with the matter who say that Bank of America Corp (NYSE:BAC) agreed to the outlines of a deal after a night-time phone call on July 30 between the bank’s chief executive officer, Brian Moynihan, and Attorney General Eric Holder. Bank of America: largest settlement in history According to the report, Bank of America Corp (NYSE:BAC) has agreed to pay…