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"In a civil complaint filed in New York seeking $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that Bank of America inherited with its purchase of Countrywide Financial during the crisis."
"In a civil complaint filed in New York seeking $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that Bank of America inherited with its purchase of Countrywide Financial during the crisis."
BofA can't get any love huh...This would be landmark as this goes through and opens up further litigation if the govt wins.
"In a civil complaint filed in New York seeking $1 billion from the bank, the Justice Department took aim at a home loan program known as the “hustle,” a venture that Bank of America inherited with its purchase of Countrywide Financial during the crisis."
EXCELLENT. If the gov't keeps the pressure up, then, hopefully, the banks will FINALLY learn their lessons.
^Unless they start hitting the executives of these places with criminal charges, I don't think there is going to be any changes. A billion dollars to a TBTF bank is a pin prick.
^Unless they start hitting the executives of these places with criminal charges, I don't think there is going to be any changes. A billion dollars to a TBTF bank is a pin prick.
true. But, couple that with the other fines that they are having....it might make a dent
I think then, and only then, will the shenanigans stop.
If we treated white collar crime as we do street crime, white collar crime would drastically decrease.
You mean revolving door justice...
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