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Aug 01, 2014
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Judge Orders Bank Of America To Pay $1.3 Billion Fine
A federal judge has ordered Bank of America to pay a $1.27 billion fine for fraud perpetrated by Countrywide Financial Corp., a mortgage company the bank acquired in 2008.Last October, a jury held Bank of America liable for bad loans Countrywide sold to Fannie Mae and Freddie Mac as part of its "Hustle" mortgage-lending program as the housing market soured in 2007 and 2008.
Source -
http://www.npr.org
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