At least $5 billion of that amount is expected
to go toward consumer relief consisting of help for homeowners
in reducing principal amounts and monthly payments, and paying
for blight removal in struggling neighborhoods, the paper said,
citing people with knowledge about the issue.
A BofA spokesman declined to comment on the issue. The
Department of Justice also declined to comment on the
The second-largest U.S. bank faces multiple government probes
over the underwriting, sale and securitization of residential
mortgage bonds before the financial crisis.
(Reporting By Sudarshan Varadhan in Bangalore and Daniel Levine
in San Francisco)
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