Bank of America Corp., Royal Bank of Canada's RBC Capital Markets and Deutsche Bank AG settled civil charges filed by the Securities and Exchange Commission and the New York Attorney General's Office, which accused them of misleading investors about the risks associated with auction-rate securities.

Without admitting or denying the charges, the three companies agreed Wednesday to provide nearly $6.7 billion to 9,600 customers who invested in the securities before the market froze in February 2008.

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