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Criminal Cartel Bank Update: Bank of America Reaches $16.65 Billion Settlement [But Where Will the Money Go?]

from Market Watch:

Bank of America Corp. agreed to pay a settlement of $16.65 billion over its mortgage lending, capping a legal odyssey that has dogged it since the depths of the financial crisis.

The deal resolves a government investigation that stems largely from the bank’s purchases of Merrill Lynch & Co. and Countrywide Financial Corp. as they teetered in the housing crisis.

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