Bank of America (BAC) reaches a $165M settlement with the National Credit Union Administration...

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

Bank of America (BAC) reaches a $165M settlement with the National Credit Union Administration over the bank's sale of MBS to several credit unions, some of whom went bust after the paper soured. BofA had hinted at the settlement some weeks ago and said the cost is covered by existing reserves.