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NY AG probes BofA over MBS

NY AG probes BofA over MBS

New York Attorney General Eric Schneiderman is investigating Bank of America ($12.18 -0.05%) over the purchase, securitization and underwriting of mortgage-backed securities.

The bank said it was cooperating with the investigation, according to a Securities and Exchange Commission filing. 

In its annual report filing with the SEC, the banking giant said it could sustain up to $3.1 billion in legal losses.

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