Another large bank has paid another large settlement for its behavior before the financial crisis. Bank of America has agreed to pay $16.65 billion to end civil investigations into sales of mortgage-backed securities by Bank of America, Countrywide, the mortgage company it bought in early 2008, and Merrill Lynch, the investment bank it purchased at the height of the financial crisis later that year. Of the $16.65 billion, some $9.65 billion will be in cash penalties, and the remaining $7 billion will be in consumer relief and compensation. The settlement also covers civil claims against the bank by federal prosecutors, the Securities and Exchange Commission, and several state attorney generals, including New York, California, and Illinois. Bank of America's profit in 2013 was $11.43 billion.