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Big win for Bank of America as court overturns $1.3 billion penalty in 'Hustle' fraud case
biz journals ^ | 23 May 2016 | Jen Wilson

Posted on 05/23/2016 10:23:58 AM PDT by DUMBGRUNT

Bank of America Corp. (NYSE: BAC) on Monday notched a major legal win when a U.S. appeals court overturned a $1.27 billion penalty handed down in a high-profile fraud case tied to mortgages sold by its Countrywide unit prior to the financial crisis of 2008.

(Excerpt) Read more at bizjournals.com ...


TOPICS: Business/Economy; Chit/Chat; Humor
KEYWORDS: 2008mortgagecrisis; 2016election; bac; barneyfrank; boa; countrywide; doddfrank; election2016; ericholder; glasssteagall; massachusetts; mortgage; mortgagecrisis; newyork; out; striking; themighty; trump; zero
but there is no joy in leftyville — mighty zeroy has struck out.
1 posted on 05/23/2016 10:23:58 AM PDT by DUMBGRUNT
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To: DUMBGRUNT

“Big win for Bank of America as court overturns $1.3 billion penalty in ‘Hustle’ fraud case”

Bank of America only had to pay Hitlery $225,000.


2 posted on 05/23/2016 10:28:52 AM PDT by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: DUMBGRUNT

IOW, Mother GOVERNMENT got away with a big win, too! She’s the one that forced mortgage lenders into these situations in the first place.

However, I WILL make an exception when it comes to Countrywide - they are truly an awful, dishonest company from top to bottom.


3 posted on 05/23/2016 10:36:17 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: DUMBGRUNT

Eric Holder Bank of America deal http://freerepublic.com/focus/f-news/3198218/posts


4 posted on 05/23/2016 11:15:04 AM PDT by piasa
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To: DUMBGRUNT

Further indication of why no one went to jail for the 2008 crash.

Our government, under a Republican president, with cooperation of Democrats (Barney Frank) agreed to flood the housing market with easy cash, while granting immunity to the banks.

No major objects from the people. What, are people going to object if their neighbor gets a loan the neighbor can’t afford? Of course not.

Bush-Frank should have known better, but their only risk is their legacies and not getting re-elected.

No one goes to jail when it blows up.


5 posted on 05/23/2016 11:15:28 AM PDT by cicero2k
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