BofA reportedly near $16B-$17B deal with DOJ

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

The deal to settle allegations of mortgage shenanigans ahead of the financial crisis would have Bank of America (NYSE:BAC) paying about $9B in cash to Justice and other government entities, with the additional money going towards consumer relief, reports the WSJ.

A previous report had BofA upping its settlement bid to $14B last week, but the DOJ still holding out for $17B.