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BofA, US Bancorp Pay $69M To Settle MBS Investor Action

By Max Stendahl ( November 7, 2014, 3:22 PM EST) -- Bank of America Corp. and U.S. Bancorp have agreed to pay $69 million to settle a class suit over their role as trustee for mortgage-backed securities containing shoddy loans issued by Washington Mutual Inc., which collapsed at the height of the 2008 financial crisis, according to a Friday court filing....

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