Bank of America's (BAC) $425M payment to the government for unused federal guarantees against...

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

Bank of America's (BAC) $425M payment to the government for unused federal guarantees against losses at Merrill is likely the first move in a wider effort to extricate itself from Washington's grip. Sources say BofA is also trying to convince regulators it's sound enough to repay billions in federal aid.