Bank of America Corp. agreed to settle a federal lawsuit accusing it of rigging bids for municipal bonds, according to a published report.

Bloomberg News reported the agreement Wednesday, citing papers filed with the U.S. District Court for the Southern District of New York in Manhattan. The agreement would settle litigation filed in 2008 against Band of America and other banks, accusing them of manipulating bids for municipal derivatives.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.