Bank of America has agreed to pay a nearly $17 billion settlement. It's in response to federal and state allegations that the bank sold risky mortgage-backed securities to investors that helped lead to the financial crisis. This is the largest settlement in history between the federal government and a single company. The deal would see billions going to the Department of Justice, several states; some would also go to reduce mortgage payments for struggling homeowners.
After 84 years, Hostess Brand announced that this October it will close the Illinois bakery where Twinkies were invented. The company blames a drop in demand for Twinkies. Workers there say they've been working overtime. The company will offer a severance package and job placement services to the almost 400 employees affected.