2013-08-07 — washingtonpost.com
``"Bank of America's reckless and fraudulent origination and securitization practices in the lead-up to the financial crisis caused significant losses to investors," said Anne Tompkins, the U.S. attorney for the Western District of North Carolina who is in charge of the case. "Now, Bank of America will have to face the consequences of its actions."
The Justice lawsuit came out of the Obama administration's federal mortgage task force, a team of federal and state attorneys assembled in 2009 to hold Wall Street accountable for fraud and other misconduct rooted in the financial crisis. The SEC's case is based on the same collection of securities that underpins the claims in the Justice lawsuit.''
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