BofA requests meeting with Eric Holder over lawsuit

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) representatives have requested U.S. Attorney General Eric Holder to meet with CEO Brian Moynihan to discuss a settlement over its lawsuit with the Justice Department. The DOJ has accused BofA of defrauding mortgage bond investors before the financial crisis.

The request comes after JPMorgan Chase CEO James Dimon negotiated a $13B deal with Holder, regarding the bank's involvement with shoddy mortgage selling.

In prior talks with the DOJ, BofA discussed paying $12B to end the lawsuit, although the Justice Department countered with a $17B settlement. Bank of America has already paid a separate $6.3B to the Federal Housing Finance Agency over similar claims.