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

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

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.