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U.S. Justice Department Seeks Over $13 Billion From BofA

The U.S. Department of Justice is asking Bank of America to pay more than $13 billion to settle allegations the bank overstated the quality of mortgage bonds it sold during the housing bubble. Sources familiar with that matter told Reuters on Thursday that discussions were in very early stages, and at least one source said the $13 billion figure is not currently on the negotiating table. CNBC News reported that Bank of America's mortgage securities settlement could exceed $10 billion.

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