Relevant:
- Bank of America ordered to pay $1.27 billion for 'Hustle' fraud
- Bank of America wins reversal of $1.27 billion penalty in Countrywide "Hustle" mortgage case
- Angelo Mozilo Will Not Face U.S. Charges for Mortgage Fraud
- BNY Mellon Broke New York Law, Misled Investors on Mortgages, State Claims
- Bank of America liable for Countrywide "Hustle" mortgages fraud
2013-08-19 — yahoo.com
``The law has a low burden of proof, strong subpoena power and a 10-year statute of limitations, twice as long as the typical limit for fraud cases. Rarely asserted until recently, it has become the basis of three lawsuits by lawyers under Manhattan U.S. Attorney Preet Bharara against banks including Bank of America Corp, Wells Fargo & Co and Bank of New York Mellon Corp.
The latest decision came in a case the Justice Department brought last October against Bank of America over toxic mortgages that its Countrywide Financial mortgage unit sold to Fannie Mae and Freddie Mac in the financial crisis.''
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