Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

Bank of America (BAC) staff could face civil fraud charges as part of a government lawsuit that...

  • Friday, October 26, 2012, 6:12 AM ET
    Bank of America (BAC) staff could face civil fraud charges as part of a government lawsuit that accuses the bank of misrepresenting the quality of home loans its Countrywide unit sold to Fannie and Freddie, causing losses of over $1B to taxpayers. It would be a rare move given the lack of cases brought against individuals over the financial crisis.
Track new comments on this story

This news story has 2 comments:

  •  
    BofA...the gift that just keeps on giving.
    26 Oct 2012, 06:19 AM Reply Like
  •  
    What the hell! When Angelo Mozillo of Countrywide was being investigated why weren't these people? Why does it always take forever for someone to realize a crime was committed. As for Mozillo he should have received jail time. But all the money he made probably bought him the best lawyers and got him off with a fine.
    26 Oct 2012, 09:52 AM Reply Like
LATEST|
TODAY SO FAR|
YESTERDAY
Other date
DJIA (DIA) S&P 500 (SPY)
Latest Articles on Financials
More Latest Articles »