The Case That Could Cost Bank of America $60 Billion (BAC)This month is an important one for Bank of America ( ) , particularly as it pertains to one of many lawsuits concerning deteriorating mortgage-backed securities and the decaying mortgages that reside therein. Prior settlement thrown into doubt The case involves a settlement struck in 2011, for $8.5 billion, between B of A and 22 investors, pursuant to 530 mortgage trusts sold by Countrywide.