BofA ups mortgage settlement ante

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

Bank of America (BAC -1.9%) yesterday offered $13B to the Justice Department to settle mortgage claims, reports the WSJ, but the government continues to hold out for billions more.

The Journal last month reported the bank was in talks for at least $12B.

Earlier today: BofA Q2 earnings coverage

Bank of America in Q2 set aside 4B in litigation expenses, up from $471M reserved for one year ago.