Bank of America to pay $1.84 billion to settle last big mortgage crisis lawsuit

Bank of America closed the door on its last major mortgage bond litigation that was at the heart of the 2008 financial crisis.

The Charlotte, North Carolina bank said on Friday it would pay $1.84 billion to resolve claims in Financial Ambac Group Inc., a bond insurer, that the mortgage-backed securities it insured before the financial crisis were backed by poorly underwritten loans.


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