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A majority of the settlement is expected to be in cash, but the figure also includes several billion dollars in help to struggling borrowers.

Under greater pressure from regulators, U.S. banks offer immigrants fewer options to transfer remittances.

The job cuts would affect about 60 percent of employees at the unit's Charlotte, North Carolina, office.

The Justice Department hasn't responded to Bank of America’s request.

The debt package exceeds $40 billion and includes a bridge loan of roughly $20 billion from Japan's Softbank Corp to Sprint.

The U.S. Department of Justice is preparing to sue Citigroup Inc. on charges that the bank defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, sources said.

The U.S. Justice Department is spending some of the $13 billion JPMorgan Chase & Co. agreed to pay to settle claims stemming from mortgage misdeeds to quicken similar punishments against other lenders, according to people familiar with the matter, according to Reuters in an exclusive report.

"DOJ may not have the evidence to try this as a fraud case," U.S. District Judge Max Cogburn said.

"Countrywide and Bank of America made disastrously bad loans and stuck taxpayers with the bill."

At least $5 billion of that amount is expected to go toward consumer relief consisting of help for homeowners in reducing principal amounts and monthly payments, and paying for blight removal in struggling neighborhoods, the Wall Street Journal said.

The Qatari royal family will a major new investor, in a bid by Germany's biggest bank to end questions about its capital strength.

BofA said it will suspend its $4 billion stock buyback and a dividend hike because it miscalculated capital after buying Merrill Lynch.

The probe concerned the sale of flawed mortgage securities ahead of the financial crisis, people familiar with the negotiations, said.

Costs hanging over from the financial crisis created a half billion dollar loss for the bank in its first quarter.

Expectations for U.S. company earnings are on a slippery slope down Wall Street.

In the CFPB's biggest settlement yet over credit-card malpractices, BAC will have to refund some 1.5 million customers.

Bank of America could pay more than $800 million to settle the allegations against it.

The risk is particularly high in third- and fourth-tier cities. When the U.S. property bubble burst, prices didn't collapse in New York but instead in places like Orlando and Las Vegas, one economist explained.

The reason a large U.S. bank made a large loan to a troubled Mexican company could go beyond simple negligence.

Economists are bracing for another weak employment report Friday, as the U.S. experienced the third most severe winter in 50 years.

Lawyers for the bank said the government's request "contradicts every pertinent legal principle."

State-owned banks headed by women control 45 percent of all of India's public sector bank deposits and 50 percent of all loans.

And you'll never guess where the biggest overvaluation exists, which ran current account deficits of 12 percent to 40 percent of GDP.

Sources tell the Financial Times JPMorgan Chase will announce a 2,000-job cutback on top of already planned reductions.

The single "Invisible" will debut during the Super Bowl.

Bank of America Corp. stock rose over 2 percent on Wednesday after the bank reported strong fourth-quarter earnings of $3.44 billion.

Citigroup was probably hurt by lower fixed-income trading in Q4. But earnings likely rose anyway on a cost-cutting drive.

The fourth-quarter earnings announcement from Bank of America and the Producer Price Index could influence markets.

Ongoing litigation uncertainty, however, makes analysts wary of excessive optimism.