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BofA settlement

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Bank of America (NYSE: BAC) Stock Mostly Flat as BofA Nears $16.5 Billion Settlement

By , Contributing Writer, Money Morning -

BAC stock

Bank of America Corp. (NYSE: BAC) stock rose slightly Thursday morning by 1% to $15.44 on news the bank is near a more than $16.5 billion settlement over mortgage-backed securities that helped ignite the 2008 financial crisis, but BAC stock has since given back those gains in afternoon trading.

Here’s a look at the events leading up to what could be the largest federal settlement to date in the history of corporate America…