Bank of America Agrees to Record Mortgage Fraud Settlement

Justice Department and Bank of America Agree to  $17 Billion Mortgage Fraud Settlement Bank of America agreed to a mortgage fraud settlement on mortgage fraud charges brought by the US Department of Justice for $17 billion, a historic settlement amount against a large bank. The mortgage fraud settlement resolves mortgage fraud charges stemming … [Read more...]

Bank of America Found Guilty of Mortgage Fraud

Bank of America and Subsidiaries Found Guilty by Federal Jury of Mortgage Fraud A federal grand jury has found Bank of America and its subsidiary Countrywide guilty of mortgage fraud, which triggered the recession that started in 2008. The US Justice Department argued that Countrywide, which was purchased by Bank of America in 2008, … [Read more...]

Mortgage Fraud Penalty Against Bank of America is $1.3 Billion

Bank of America Ordered to Pay $1.3 Billion for Mortgage Fraud On Wednesday, July 30th, a federal jury ruled that Bank of America would pay $1.27 billion in civil penalties for mortgage fraud and bad home loans sold to Fannie Mae and Freddie Mac, which in part triggered the Great Recession in 2008. In October last year, the jury ruled that Bank … [Read more...]

Bank of America Fined for Decades of Employment Discrimination

Bank of America Found Guilty of Employment Discrimination for Years, Fined $2.2 Million The US Department of Labor has ordered Bank of America to pay $2.2 million for employment discrimination, after the agency found the bank had discriminated against 1,100 African-American job seekers at the company’s offices in North Carolina between 1993 and … [Read more...]

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