On January 11, 2008, Bank of America announced that it would buy Countrywide Financial for $4.1 billion.[34] In March 2008, it was reported that the Federal Bureau of Investigation (FBI) was investigating Countrywide for possible fraud relating to home loans and mortgages.[35] This news did not hinder the acquisition, which was completed in July 2008,[36] giving the bank a substantial market share of the mortgage business, and access to Countrywide's resources for servicing mortgages.[37] The acquisition was seen as preventing a potential bankruptcy for Countrywide.