![Bank of America agrees to record $17bn settlement over mortgage fraud Bank of America agrees to record $17bn settlement over mortgage fraud](https://mtic.us/wp-content/uploads/2014/08/bank-of-america.si_-310x168.jpg)
America’s second largest lender has reached a $16.65 billion settlement with US federal authorities for selling toxic mortgages misleading investors, the Justice Department said Thursday.
“This historic resolution – the largest such settlement on record – goes far beyond ‘the cost of doing business,’” Attorney General Eric Holder said in a statement posted on the US Justice Department website on Thursday.