Bank of The America Corp is anticipated to pay greater than $16.5 billion to end investigations into mortgage safeties that the bank and its units offered in the run-up to the economic crisis, in a deal that can be announced as early as Thursday, an individual familiar with the concern said.

The bank has been hammering out the final details of the record-breaking accord with the UNITED STATE Department of Justice and is anticipated to pay around $9 billion in cash money and the rest in help to having a hard time homeowners.

A $16.5 billion payment would be the largest in a series of rising fines against banks for a variety of misbehavior, including breaking U.S. injunctions and wrongly marketing home mortgage protections.

An agreement in principle was gotten to previously this month after a telephone call between the banking's executive, Brian Moynihan, and Attorney general Eric Owner.

The settlements have actually been driven by an examination into protections sold by Merrill Lynch, which the bank agreed to acquire in 2008 at the height of the financial crisis, people acquainted with the concern have actually said.

Representatives of the Justice Division and Bank of America declined comment.