---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-259199"
form_type: "8-K"
ticker: "BAC"
cik: "0000070858"
company_name: "BANK OF AMERICA CORP /DE/"
filed_at: "2022-10-07T23:59:59+00:00"
generated_at: "2026-06-23T04:49:14.734728+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Bank of America settles Ambac lawsuits for $1.84B; records $354M pre-tax charge in Q3 2022

## Summary
- Settlement resolves all pending Ambac lawsuits with damages claims >$3B related to pre-2008 mortgage bond insurance.
- BAC pays $1.84B; Ambac dismisses all litigation with prejudice and releases all claims.
- Pre-tax expense of ~$354M ($0.03 per share after tax) in Q3 2022 due to incremental cost beyond previous accruals.
- Lawsuits were brought by Ambac against Countrywide and other legacy entities.

## SEC filing metadata
- accession: 0001193125-22-259199
- form_type: 8-K
- ticker: BAC
- cik: 0000070858
- company_name: BANK OF AMERICA CORP /DE/
- filed_at: 2022-10-07T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/70858/000119312522259199/0001193125-22-259199-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/70858/000119312522259199/d305216d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-259199
- JSON: https://secwatch.observer/filing/0001193125-22-259199.json
- Plain text: https://secwatch.observer/filing/0001193125-22-259199.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.