Reuters: Holder will not meet with BofA over mortgage settlement

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

Eric Holder says he will not meet with BofA (BAC) CEO Brian Moynihan to discuss a settlement over the bank's mortgage lawsuit with the Justice Department, Reuters reports. The Attorney General states that the "parties remain too far apart for a meeting to be productive."

In prior negotiations over the shoddy mortgage selling lawsuit, BofA discussed paying $12B to resolve the claims, although the Justice Department countered with a $17B settlement .

JPMorgan Chase CEO Jamie Dimon previously cut a $13B deal with Holder regarding his bank's involvement with its mortgage selling before the financial crisis, and BofA was seeking a similar negotiation.