BofA Settlements Impede Fraud Probe... (government, states, laws, Arizona)

[sundrop]

They should have been left to fail...they are in a world of mess.

BofA Settlements Impede Fraud Probe: Arizona - Bloomberg

Bank of America Corp. is impeding an investigation of its loan modification practices by negotiating settlements with borrowers who must agree to keep them secret and not criticize the bank in exchange for cash payments and loan relief, Arizona officials say.


Here is another link for information as well...


In an attempt to clean up its battered image, Bank of America allegedly provided mortgage assistance to customers willing to drop complaints about the bank over the course of the housing bust, according to reports from Arizona officials.


BofA Allegedly Modified Mortgages To Keep Complainers Quiet

[HappyTexan]

And if the fedgov along with the banks get the states to agree to settlements then the banks get immunity from any future lawsuits.

That is why I don't trust the government. Look at what the banks did and got away with and look at what they are doing now with settlements and are getting away with it and even have the Fedgov on their side helping them.