BofA to Pay $8.5 Billion in Bondholders Settlement

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June 29 (Bloomberg) -- Bank of America Corp., the biggest U.S. bank by assets, agreed to pay $8.5 billion to settle claims over soured mortgages after a group of bondholders including BlackRock Inc. demanded refunds. Investors, which also include Pacific Investment Management Co. and the Federal Reserve Bank of New York, demanded in October that Bank of America repurchase home loans that had been packaged into bonds by Countrywide Financial Corp., which it acquired in 2008. Erik Schatzker and Dominic Chu report on Bloomberg Television's "InsideTrack." (Source: Bloomberg)


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