BofA seeking shield from further suits

Bank looks to broker a deal with state and federal officials

Just days after news broke that Bank of America (BofA) is facing a new lawsuit from 15 former Countrywide Financial Corp. investors that lost money during the housing collapse comes word that the company is now looking to the government for help shielding itself from further litigation.

BofA is now trying to broker a settlement with state and federal officials to protect the company should any further suits arise over the Countrywide’s mortgage practices, reports the Washington Post. In return, BofA says it will reduce the amount that struggling homeowners owe on their loans.

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