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Bank of America to Pay 17 Billion in Mortgage MBS Settlement
Bank of America reaches a roughly 17 billion settlement with U.S. officials over its role in selling mortgage backed securities before the 2008 financial crisis. Cash of 9.65 billion plus consumer relief valued at about 7 billion. Largest meltdown settlement to date. Apple stock hits record high as Tim Cook era drives growth. Shares rise to 101.09 intraday, closing at 100.57 for a 602 billion market cap. Apple rebounded after a Jobs era void and slowing device sales amid iPhone and iPad competition.
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Jpmorgan Chase & Co
Bank of America
San Francisco
Apple
Tim Cook
Steve Jobs
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House Financial Services Committee
Jeb Hensarling
Texas
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Associated Press