Bank of America Corp. may settle a state and federal probe of foreclosure practices in a deal that allows New York to proceed with an inquiry into securitizations, said a Bloomberg report citing two people with direct knowledge of the talks.

The firm may pursue an accord with most of the 50 state attorneys general, even if it omits New York’s Eric Schneiderman and at least two other states who are opposed because a deal would impede related inquiries, according to the Bloomberg report.

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