Bank of America faces potential $2.1 billion federal penalty

01/30/2014 | Reuters

The U.S. government is now pursuing $2.1 billion in penalties from Bank of America for losses incurred by government-sponsored mortgage finance companies in relation to defective mortgages purchased from a BofA unit. In October, a federal court jury found the bank and a former executive at the Countrywide unit liable for fraud.

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