1443 EDT -- Bank of America Corp. is one of the most talked-about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The bank is settling its last major mortgage-crisis suit, agreeing to pay $1.84 billion to resolve claims by bond insurer Ambac Financial Group Inc. about mortgage-backed securities. Ambac had alleged that Countrywide Financial, the lender Bank of America bought in 2008, made false representations about mortgage loan quality. Bank of America, which previously accrued for certain amounts of the settlement, expects a third-quarter charge of about $354 million. Dow Jones & Co. owns Factiva. (josh.beckerman@wsj.com)

 

(END) Dow Jones Newswires

October 07, 2022 15:06 ET (19:06 GMT)

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