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US government sues Bank of America over mortgage securities

7 August 2013 Last updated at 06:51 BST

The US government filed two lawsuits against Bank of America relating to fraud on $850m (£553m) of mortgage-backed securities.

The Justice Department and the Securities and Exchange Commission filed parallel suits in North Carolina.

Attorney General Eric Holder said the government wanted "justice for those who have been victimised."

Russell Trott reports.