BofA mortgage accord with U.S. said coming as soon as Thursday

BANK OF AMERICA Corp.'s $16 billion to $17 billion settlement with the Justice Department could be announced as early as Thursday, according to people with knowledge of the matter.
BANK OF AMERICA Corp.'s $16 billion to $17 billion settlement with the Justice Department could be announced as early as Thursday, according to people with knowledge of the matter.

WASHINGTON – Bank of America Corp.’s record settlement with the Justice Department over the sale of mortgage bonds in the run-up to the 2008 financial crisis will be announced as soon as Thursday, two people with knowledge of the matter said.

The accord will total $16 billion to $17 billion, a person familiar with the matter said earlier this month. Another person, who requested anonymity because the deal hasn’t been disclosed publicly, said the number will be about $16.6 billion.

The agreement would resolve civil investigations by federal and state prosecutors in California, New York and New Jersey, as well as a lawsuit filed in North Carolina, the people said.

Lawrence Grayson, a Bank of America spokesman, declined to comment, and the Justice Department’s Ellen Canale didn’t immediately respond to phone and email messages seeking comment.

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Bank of America shares rose 0.4 percent to $15.51 at 2:57 p.m. in New York, erasing an earlier decline.

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