BofA hopes meeting will settle mortgage probe

Bank Of America Building

Brian Moynihan may be taking a play out of Jamie Dimon’s book.

The New York Post reports that representatives of Moynihan’s Bank of America have asked US Attorney General Eric Holder to meet with the CEO in an attempt to resolve differences over a possible multibillion-dollar settlement involving shoddy mortgage securities sold by the country’s No. 2 bank and its units, according to people familiar with the negotiations.

Negotiators for BofA and the Justice Department have not met in more than a week and have no plans to do so after a flurry of meetings did not bring them close to a settlement amount, sources said.

Dimon, the CEO of JPMorgan, took a much-ballyhooed trip to Washington in September to meet with Holder in an effort to close a deal that would allow JPM, the No. 1 bank in the US, to put its toxic mortgage problems behind it.

To access the complete New York Post article hit the link below:

BofA hopes meeting with AG Holder settle mortgage probe

Questions loom whether Cohen will be forced to sell stake in Mets

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News