Report: BofA To Make Massive Settlement Over Mortgage-Backed Securities

Report: BofA To Make Massive Settlement Over Mortgage-Backed Securities
(New York, NY) -- Bank of America will reportedly pay nearly 17-billion dollars in a settlement with the Justice Department over mortgage-backed securities. The "Wall Street Journal" reports the settlement could be announced tomorrow and would be the biggest settlement ever between a company and the government. Bank of America stock jumped into positive territory on the news. Mortgage-backed securities helped push the economy to the brink of disaster in 2008.