In local news:
Bank of America Merrill Lynch will pay more than $15 million to settle claims that its traders lied about how much they paid to acquire mortgage bonds, allowing the bank to charge a higher price to clients buying securities, reports The Wall Street Journal. That includes $10.5 million that must be returned to customers and a $5.2 million civil penalty, according to the newspaper. BofA Merrill Lynch is the investment-banking arm of Charlotte-based Bank of America Corp. (NYSE: BAC).
