Bank Of America In Talks To Settle Probe Into Merrill Lynch MBS Sales

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Bank Of America In Talks To Settle Probe Into Merrill Lynch MBS Sales

Bank of America Corp (NYSE:BAC) is apparently in talks to end a Department of Justice inquiry into its mortgage backed securities business. The company, which announced its earnings for the first quarter of 2014 this morning, is apparently considering a multi-billion dollar settlement with the US government in order to end the investigation.

According to the report, which initially appeared on Reuters this afternoon, the company has held talks to resolve the probe into the sale of mortgage backed securities by Merrill Lynch, an arm of Bank of America Corp (NYSE:BAC) since 2009.

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Bank of America talks to the DOJ

According to the report, the investigation is descended from a government task force that President Obama put into action in 2012 in order to investigate the