Sources say a set of five confidential federal audits have accused BAC, JPM, WFC, C, and Ally...

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

Sources say a set of five confidential federal audits have accused BAC, JPM, WFC, C, and Ally Financial of defrauding taxpayers in their handling of foreclosures on homes purchased with government-backed loans. The Justice Department must now decide whether to file charges.