Bank of America (BAC) Said to Offer $13B in Proposed Mortgage Probe Settlement

(Updated - July 16, 2014 10:20 AM EDT)

Bank of America (NYSE: BAC) said to offer $13 billion to settle mortgage probe, according to WSJ headlines.

UPDATE - News comes following a recent meeting between BofA and the U.S. Department of Justice.

Lawyers for BofA are said to have requested the meeting, but it ended on Tuesday with no resolution.

The DoJ is asking for billions more than BofA's $13 billion proposal. Some prior market speculation put the price tag at potentially over $17 billion.

Earlier Wednesday, BofA announced that it set aside $4 billion for previously disclosed legacy mortgage-related matters. The move impacted EPS by 22 cents, according to the company's Q2 release.

Shares of BofA are down 2.3 percent.

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