BUSINESS
04/02/2013 10:18 am ET | Updated Jun 02, 2013

BofA To Pay $165 Million In Settlement With Credit Unions Over Failed Mortgage-Backed Securities

WASHINGTON, April 2 (Reuters) - Bank of America Corp agreed to pay $165 million to resolve claims from the U.S. credit union regulator over purchases of mortgage-backed securities by corporate credit unions that have since failed, the regulator said on Tuesday.

The bank did not admit fault as part of the settlement, the National Credit Union Administration said.

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