- Bank of America (BAC) says in its annual 10-K filing that the U.S. Attorney’s Office for the Eastern District of New York is investigating the bank’s compliance with the Federal Housing Administration’s direct endorsement program.
- Also, government authorities in North America, Europe and Asia are conducting probes and launching inquiries into BAC's conduct and practices in certain foreign exchange markets over multiple years.
- BofA bumped up by $1B its latest estimate of possible litigation-related losses to $6.1B vs. a year-ago estimate of $3.1B.
- The bank also reached a deal with Berkshire Hathaway (BRK.A, BRK.B) to amend terms so that it will have to wait at least five years to redeem preferred stock bought in 2011.
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