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Justice department accuses bank of causing taxpayers more than $1bn in losses by selling toxic mortgage loans.
Economic protesters had campaigned against Bank of America plans to implement monthly charge for personal accounts.
Ten per cent of workforce set to lose their jobs over the next few years in a bid to save $5bn a year.
US president pushes congress to pass his $447bn jobs bill with "no games, no politics, no delays" to revive economy.
Troubled bank to sell about half of its 10 per cent stake in China Construction Bank for $8.3bn in cash.
The bank and its Countrywide unit agree to settle claims for selling poor quality mortgage-backed securities.
Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
 
 
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