BANKTHINK

B of A Has Countrywide Problems; QE3 Continues; Barclays Board May Be Overhauled

Receiving Wide Coverage ... A Countrywide Haunting: Bank of America found itself on the receiving end of a $1 billion mortgage lawsuit filed by the federal government on Wednesday. Federal prosecutors are accusing the bank of carrying out a scheme ("called the 'Hustle' and 'High Speed Swim Lane'") started by its Countrywide unit that defrauded government-backed mortgage agencies Fannie Mae and Freddie Mac "by churning out loans at a rapid pace without proper controls." B of…

To continue reading Morning Scan, please log in or subscribe.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.


Already a subscriber? Log in here
Please note you must now log in with your email address and password.