Bank of America says it will make $5 billion in mortgages to low and moderate income borrowers

The announcement is the latest by a big U.S. bank aimed at helping under-served communities. For Bank of America, the mortgage program is a reminder of its recent past. Thanks mostly to its purchase of Countrywide Financial during the 2008 crisis, the bank had more than $70 billion in regulatory settlements tied to improper mortgage and foreclosure activities.