Bank of America Corp (BAC) Settles MBS Lawsuit with MassCountrywide Financial Inc., acquired by Bank of America Corporation ( BAC) in 2008, recently entered into a settlement with Massachusetts worth $17.3 million. While a portion of the settlement fee – $11.3 million – will be utilized to compensate investors with the Pension Reserves Investment Management Board, the remaining – $6 million – will be handed over to the state.