BofA reportedly near settlement with DOJ

• Bank of America (BAC -2.5%) boosted legal reserves by $2.4B in Q1, and management is playing coy about why, but the WSJ says the bank is near a multi-billion dollar settlement with the DOJ to end civil probes into a number of legacy issues. The talks have been ongoing for months, but intensified, say sources, after JPMorgan late last year settled for $13B.