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Bank Of America Sued For $1 Billion In Mortgage Losses

30 Oct 2012

Bank Of America Sued For $1 Billion In Mortgage Losses

Under a loan program nicknamed the “Hustle,” Bank of America churned out “defective” loans that it later sold to the United States at inflated prices, the Justice Department alleges in a new lawsuit. Two weeks ago, the U.S. sued Wells Fargo over alleged “reckless” lending covered by federal insurance.

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