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June 29, 2011

Bank of America Agrees to Pay $8.5B Settlement in Subprime Mortgage Scandal 
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In business news, Bank of America has reportedly agreed to pay $8.5
billion to settle claims by investors that purchased mortgage securities
that soured when the housing bubble burst. The $8.5 billion settlement
is the single biggest settlement tied to the subprime mortgage boom and
the subsequent financial crisis of 2008.



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