Wednesday was the day of reckoning for the Bank of America as it was ordered to pay $1.27 billion in damages over their defective mortgages. Its Countrywide Financial unit sold these defective mortgages and through this ruling, the government is finally rolling in a win. As this decision was made public, the Bank of America (the second largest bank in the U.S.) was also preoccupied with … [Read more...]
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