2013-10-21reuters.com

``Countrywide Financial Corp, the mortgage lender acquired by BofA in July 2008, has cost the bank more than $40 billion in litigation expenses and other charges linked to its bad subprime mortgages. The bank set aside an additional $300 million for mortgage litigation in the latest quarter.

JPMorgan reached a tentative $4 billion deal with the FHFA on Friday to settle claims that the bank misled government-sponsored mortgage agencies about the quality of mortgages it sold them, according to a person familiar with the matter.''


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