US Attorney General Eric Holder
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Eric Holder: Bank of America deal 'a historic step'

Bank of America has agreed to pay a record $16.7bn (£10bn) to US authorities for misleading investors about the quality of loans it sold, a move described by US Attorney General Eric Holder as "a historic step forwards".

The loans were sold by Countrywide Financial and Merrill Lynch before Bank of America bought them in 2008, at the height of the financial crisis.

  • 21 Aug 2014
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