* Bank of America has admitted to hiding data
* She paid a total of over $ 65 billion in agreements Friendly
* The market eased by the signing of an agreement
* The stock gained more than 3% (Updates with details, comments, during )
by Aruna Viswanatha and Jonathan Stempel and Peter Rudegeair
August 21 (Reuters) – Bank of America has concluded with the law of the United States an amicable settlement to a record $ 16.65 billion dollars (12.5 billion euros) to stop the prosecution of its practices in selling financial products backed by real estate loans before financial crisis.
Whereas for weeks this agreement, including large lines were already known, was greeted with relief Thursday on Wall Street, many investors seeing mostly through close a few glorious chapter in the history of the number two of the banking sector in the United States.
Share Bank of America gained 3.22% to 16.02 dollars at 6:20 p.m. GMT , one of the largest increases in the Standard & amp; Poor’s-500, while the KBW bank index took 1.41%.
Under the agreement announced by the Ministry of Justice, the bank will pay $ 9.65 billion in cash to the federal government and several states and American public, while a further seven billion will go to borrowers and communities local difficulties. Read more …
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