|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
: Bank of America reached an $11.6 billion settlement with government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash, bringing it a step closer to clearing up its legacy of bad home loans. The bank was also part of a separate settlement between regulators and mortgage companies over wrongful foreclosure practices.
NEARER TO NORMAL: The move takes the bank, a poster child of the financial crisis, a step closer to normal. It agreed in September to pay $2.43 billion to settle a class-action lawsuit related to its takeover of Merrill Lynch in 2008.
SMALL PROFIT: Despite racking up the charges, the bank said that it still expects fourth quarter earnings to be "modestly positive."