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Brockton pulls $170m payroll from Bank of America

Brockton will move its $170 million payroll account out of Bank of America, a move the city says makes good business sense but which advocates for residents facing foreclosure see as a just response to the national lender’s role in the subprime mortgage crisis.

City Treasurer Martin Brophy said the 3,500-person payroll account will move to Eastern Bank this summer, after local officials reviewed proposals from five banks, including Bank of America.

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