Would the latest settlement hurt the coming earning?
Well no doubt it is good for the long term, however 2.43B is not trivial at all. I am not sure whether this would cause the same impact as Jan's 10B settlement which drove the share price dived about 1$ due to missed earning.
BAC "still faces a variety of litigation over its mortgage operations, which have shrunk significantly in size, and over its underwriting of mortgage securities.
Bank of America is among 17 banks and lenders facing lawsuits by the Federal Housing Finance Agency over losses suffered by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) on mortgage securities.
The FHFA has sued Bank of America over $57.5 billion of securities, more than any other bank, that Fannie Mae and Freddie Mac bought, and which were sponsored or underwritten by Bank of America, Countrywide or Merrill."
Plus economy at its peak and about to tank. This is good news for now but if BAC was to lose the remaining lawsuits, it wouldn't have half the $$ to cover the judgements. I'd say BAC could be a good short-term (days) position but nothing beyond that.