LOS ANGELES: Bank of America Corp. was close to finalizing a deal late Tuesday that calls for the lender to pay $8.5 billion to settle claims from a group of investors who bought mortgage-backed securities from the lender, according to a person familiar with the settlement talks.
The Charlotte, N.C., bank was nearing an agreement with the investor group and was expected to announce a done deal as early as Wednesday, the person said on condition of anonymity because the matter was still developing.
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