A potential new legal front is opened against the banks as the U.S. sues Bank of America (BAC),...

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

A potential new legal front is opened against the banks as the U.S. sues Bank of America (BAC), seeking at least $1B in damages for allegedly misrepresenting the quality of home loans it (through its Countrywide unit) sold to Fannie and Freddie.