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Bank of America Corp. Chief Executive Officer Brian T. Moynihan promoted a former FleetBoston Financial Inc. colleague to clean up soured mortgages that fueled losses at the biggest U.S. lender by assets.
BusinessWeek.com — Finance

Bank of America Corp., the biggest U.S. lender by assets, created a unit to modify delinquent mortgages, handle foreclosures and resolve investor disputes over faulty loans originated by the company.
BusinessWeek.com — Finance