Bank of America receives additional $20 million - KWWL - Eastern Iowa Breaking News, Weather, Closings

Bank of America receives additional $20 million

WASHINGTON, D.C. (KWWL, AP)-- Bank of America will receive additional support from the government bailout fund.

Friday morning, the treasury department agreed to give Bank of America an additional $20 billion.

The government will also guarantee the bank against losses of up to $118 billion.

Bank of America plans to use the money to help it absorb losses from its acquisition of Merrill Lynch.

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