Bank of America to Pay $1.84 Billion to Settle Last Major Mortgage-Crisis Suit

Bank of America closed the door on its last major litigation over mortgage bonds that were at the heart of the financial crisis of 2008.

The Charlotte, N.C., bank said Friday it would pay $1.84 billion to resolve claims by Ambac Financial Group Inc., a bond insurer, that mortgage-backed securities it insured before the financial crisis were backed by poorly underwritten loans.

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