B of A Wants To Repay Bailout Money

Posted by Orb Staff on September 01, 2009 No Comments
Categories : Residential Mortgage

Bank of America wants to repay some of the bailout money it received in support its acquisition of Merrill Lynch & Co., the Wall Street Journal reports.

The Journal sources ‘people familiar with the matter,’ who say the government wants Bank of America to repay at least $500 million. Doing so would negate a loss-share agreement that the bank and the government entered into regarding certain assets.

SOURCE: Wall Street Journal

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