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BofA Subpoenaed by Massachusetts Over Collateralized Loans

Bank of America Corp., the second-largest U.S. lender by assets, was told to turn over documents to Massachusetts’s top securities regulator related to the company’s involvement in collateralized loan obligations.

The inquiry focuses on two CLOs the Charlotte, North Carolina-based bank sold in 2007 that resulted in about $150 million in losses to investors, according to a statement today from the state’s secretary of the commonwealth, William Galvin.