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Entries in bank of america (4)

Wednesday
Oct242012

BofA Accused of $1 Billion 'Hustle'

Bank of America sued for alleged mortgage fraud

CNN

The Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a program it says was known within the bank as "the Hustle."

Read the full article here.

Tuesday
Oct092012

The Plaintiff's Lawyer

Investors’ billion-dollar fraud fighter

The New York Times

A few days after securing the largest shareholder recovery arising from the financial crisis — $2.43 billion from Bank of America — the plaintiffs’ lawyer Max W. Berger was not taking a victory lap.

Read the full article here.

Thursday
Feb092012

Largest Joint Federal-State Civil Fraud Settlement in History Reached

Landmark settlement announced on foreclosure, mortgage fraud

The Washington Post

State and federal officials on Thursday announced a settlement of more than $25 billion with five of the nation’s banks over their flawed and fraudulent foreclosure practices. It is the largest government-industry settlement in more than a decade.

Read the full article here.

Wednesday
Jun292011

Day of Reckoning

Bank of America in $8.5 billion settlement

CNNMoney

In the biggest reckoning of the 2008 financial crisis, Bank of America said Wednesday it will pay $8.5 billion to investors burned by fraudulent mortgage securities.

Read the full article here.