bank of america 05Bank Of America $1.2 Billion Mortgage ‘Hustle’ Penalty Thrown Out

 

This is a npr.org article.

 

A federal appeals court Monday ruled in favor of Bank of America, reversing a lower court ruling. The decision is a blow to the federal government, which had won the case at trial. Bank of America had been ordered to pay a $1.27 billion penalty for alleged violations by its Countrywide unit.

The case got attention in 2012 because it appeared to pull back the curtain on some of the widespread wrongdoing in the mortgage industry that led to the worst financial crisis in generations.

Continue reading article.

Piggybankblog Courtroom Bailiff: “All rise! .The Honorable Judge John Wright has left the Courtroom of Public Opinion!”

donate small picture three