Bank of America confirms U.S. deal; +1.1% premarket

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

Previously tipped off as being about $17B, the $16.65B comprehensive mortgage-related settlement with the DOJ and six states' Attorneys General includes a $9.65B cash payment and about $7B of consumer relief.

The deal is expected to reduce Q3 pretax earnings by $5.3B and EPS (after tax) by about $0.43 per share.

BAC +1.1% premarket

Previously: BofA reportedly settles mortgage claims for $17B