BofA disputes government's $2.1B claim in mortgage-fraud case

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) has disputed government claims that the company should pay $2.1B after the firm and one of its employees was found guilty in October of fraud over defective mortgages sold by the firm's Countrywide unit.

Bank of America argues it should only have to pay the amount that it generated in profit from selling the loans, which it says was nothing.