BofA (BAC) may be able to dodge a $1B bullet in a lawsuit over mortgage-bond fraud, due to the...

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

BofA (BAC) may be able to dodge a $1B bullet in a lawsuit over mortgage-bond fraud, due to the problematic past of the whistleblower in the case. Former Countrywide exec Edward O'Donnell, along with the DOJ, is suing BofA for the alleged fraud against Fannie Mae and Freddie Mac. However, O'Donnell now works at Fannie and has himself been accused of fraud.