The California's Attorney General office subpoenaed Bank of America Corp. this week for the sale of mortgage-backed securities under false pretenses, according to a Los Angeles Times report.

The state would like to determine whether the bank and its Countrywide Financial unit sold investments backed by risky mortgages to institutional and private investors in the state, according to the report.

California withdrew from the broader attorney generals negotiation with BofA earlier this month .


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