On the market appeared the news about a possible payment of $ 12 billion by the Bank of America, to resolve problems with the U.S. Department of Justice at a number of cases on shoddy mortgages.
About 5 billion should go to consumers to reduce part the loan principal and lower monthly payments. It is worth recalling that J.P. Morgan Chase & Co. last year paid a record $ 13 billion on such cases with mortgage lending.
It is worth noting that after the crisis, the U.S. banking system has gone through a number of such proceedings that in result should increase the reliability of the banking system and to attract additional attention of investors. Despite the payment of 12 billion, we expect continued growth of shares of the Bank of America in the long term with growth potential at 13-15%.