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The agreement involving one of America’s biggest banks makes a survey brought by the US Justice Department.(1)It resolves lengthy argument over the extent to which Bank of America misled the buyers of its mortgage-backed investments.
    This is the latest effort by authorities in the US to hold Wall Street accountable for the bad conduct that led to the financial crisis.(2)And the sums involved here are much larger than the $13bn paid by another bank, JP Morgan, to resolve a similar matter.
    Even though the penalty exceeds Bank of America’s entire profits last year, this deal brings a measure of closure. The bank has already paid tens of billions of dollars to settle cases related to the financial crisis, but this was seen as the biggest remaining legal hurdle.