Bank Of America (BOA) http://www.kunc.org en U.S. Sues Bank Of America Over Mortgage-Backed Securities http://www.kunc.org/post/us-sues-bank-america-over-mortgage-backed-securities The Department of Justice announced Tuesday that it was suing Bank of America for allegedly lying to investors about the riskiness of about $850 million worth of mortgage-backed securities back in 2008.<p><a href="http://www.justice.gov/opa/pr/2013/August/13-ag-886.html">According to a press release by the Justice Department</a>, the action is part of efforts of the Obama administration's Financial Fraud Enforcement Task Force's RMBS Working Group.<p><a href="http://online.wsj.com/article/SB10001424127887323968704578652302136846358.html?mod=WSJ_hps_LEFTTopStories"><em>The Wall Street Journal</ Tue, 06 Aug 2013 19:58:00 +0000 Eyder Peralta 48014 at http://www.kunc.org 'We Were Told To Lie,' Say Bank Of America Employees http://www.kunc.org/post/we-were-told-lie-say-bank-america-employees Six former employees and one contractor say <a href="http://www.npr.org/templates/archives/archive.php?thingId=125951635">Bank of America</a>'s mortgage servicing unit consistently lied to homeowners, fraudulently denied loan modifications and offered bonuses to staff for intentionally pushing people into foreclosure, according to a <a href="http://www.salon.com/2013/06/18/bank_of_america_whistleblowers_bombshell_we_were_told_to_lie/">Salon.com report</a>.<p>The allegations were made in <a href="http://www.salon.com/2013/06/18/check_out_the_full_bank_of_america_whistleblower_details_affidavits Tue, 18 Jun 2013 22:13:00 +0000 45995 at http://www.kunc.org 'We Were Told To Lie,' Say Bank Of America Employees Bank Of America To Pay Fannie Mae $3.6B, Buy Back $6.75B In Mortgages http://www.kunc.org/post/bank-america-pay-fannie-mae-36b-buy-back-675b-mortgages Bank of America <a href="http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-newsArticle&ID=1771565&highlight=#fbid=W130-__YpjK" target="_blank">announced this morning</a> that it will pay the Federal National Mortgage Association (Fannie Mae) $3.6 billion in cash and will buy back $6.75 billion worth of mortgages to resolve claims related to mortgage-backed securities sold to Fannie Mae by the bank and Countrywide Financial Corp. Mon, 07 Jan 2013 13:39:00 +0000 Mark Memmott 38507 at http://www.kunc.org Bank Of America To Pay Fannie Mae $3.6B, Buy Back $6.75B In Mortgages Bank Of America To Pay $2.43 Billion In Settlement http://www.kunc.org/post/bank-america-pay-243-billion-settlement Transcript <p>STEVE INSKEEP, HOST: <p>NPR's business news begins with more fallout from the financial crisis.<p>(SOUNDBITE OF MUSIC)<p>INSKEEP: Bank of America said this morning, it will pay almost two and a half billion dollars to settle a lawsuit related to its purchase of investment bank Merrill Lynch in 2008. That was the height of the financial crisis and investors who owned Bank of America stock at the time brought the lawsuit. They claimed Bank of America officials made false statements about the health of both companies at the time of the merger. Fri, 28 Sep 2012 16:12:00 +0000 34341 at http://www.kunc.org Bank Of America To Pay $2.43 Billion To Settle Class Action Lawsuit http://www.kunc.org/post/bank-america-pay-243-billion-settle-class-action-lawsuit While denying it did anything wrong, <a href="http://phx.corporate-ir.net/phoenix.zhtml?c=71595&p=irol-sec#fbid=NsA2C6Cu_Fr/8393157" target="_blank">Bank of America announced this morning</a> it will pay "$2.43 billion and institute certain corporate governance policies ... Fri, 28 Sep 2012 13:33:00 +0000 Mark Memmott 34329 at http://www.kunc.org Bank Of America To Pay $2.43 Billion To Settle Class Action Lawsuit