Bank of America Charged with Fraud!
Bank of America is experiencing a $1 million federal loan lawsuit. Countrywide Financial, the mortgage unit of Bank of America is accused of selling defective loans for Fannie Mae and Freddy Mac. According to the report, all this fraud was done to hide deficits the company was experienced. The company urged employees to give out loans, in which they knew was not ethical. Currently, Bank of America is denying all allegations and says they can not afford to pay back any monetary funds.
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