Bank of America may face civil charges from DOJ

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Associated Press

Posted on August 1, 2013 at 4:03 PM

Updated Thursday, Aug 1 at 6:01 PM

Bank of America may be facing civil charges over mortgage backed securities and other mortgage-related matters.

The bank said in a regulatory filing Thursday that the Department of Justice told the company that it intends to file civil charges related to one or two of its jumbo-prime securitizations. The SEC and the New York Attorney General's office also are considering filing charges against Merrill Lynch in related investigations.

Bank of America said that it is fully cooperating with the investigations and is in active discussions to explain why the threatened civil charges are not appropriate.

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