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DOJ Sues Bank Of America Over Mortgage-Backed Securities

Tuesday, August 06, 2013

The Justice Department has filed a civil lawsuit against Bank of America, alleging that the company lied to investors about the relative riskiness of the mortgage loans backing the residential mortgage-backed securities, made false statements after intentionally not performing proper due diligence and filled the securitization with a disproportionate amount of risky mortgages.

Source: NPR

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