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With Citigroup paying up, will feds' attention now turn to BofA?
With Citigroup paying up, will feds' attention now turn to BofA?

With Citigroup Inc. agreeing to pay $7 billion for issuing toxic mortgage securities, the Justice Department now turns to settling its case against what analysts call the biggest mortgage miscreant of all: Bank of America Corp. The government has contended that the Charlotte, N.C., lender bears responsibility not only for its own mortgage bonds, but also for those at two firms it took over during the financial crisis: Countrywide Financial Corp. in Calabasas and Merrill Lynch & Co. in New York. Analysts said BofA will feel the heat of investigations stemming from the subprime housing boom. Countrywide was once the biggest originator of high-risk home loans, and Merrill was one of Wall...

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