U.S. Appeals Ruling That Throws Out Crisis-Era Bank of America Case


U.S. Appeals Ruling That Throws Out Crisis-Era Bank of America Case

WASHINGTON—The Justice Department asked a federal appeals court to reconsider its ruling throwing out a civil mortgage-fraud case against Bank of America Corp. , in an uphill effort to rescue one of its highest-profile cases tied to the financial crisis.

The U.S. attorney’s office in Manhattan said in a Thursday filing the court had “overlooked a wealth of evidence” in reaching a May decision that found the government hadn’t proven fraud by Bank of America’s Countrywide unit over a program dubbed “Hustle.”

The court said at the time the case amounted only to breaches of a contract, a stunning setback for the government’s efforts to levy tough fines on corporations and executives. The court also threw out a related penalty against a Countrywide executive, one of the few individuals fined for alleged misdeeds during the crisis.

The Justice Department said the unanimous ruling by a three-judge panel at the Second U.S. Circuit Court of Appeals in New York had overlooked the terms of the contract that support its case. It asked the court to reconsider the case and send it back for another trial if it reached the same conclusion.

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3 Responses to “U.S. Appeals Ruling That Throws Out Crisis-Era Bank of America Case”
  1. lvent says:

    There should be criminal investigations by the U.S. STATES ATTORNEY into private residences being used for HUMAN TRAFFICKING of U.S. CITIZENS by subpoenaing the INVESTMENT PORTFOLIOS of WALL STREET BROKERAGE FIRMS.

  2. lvent says:

    They’re trying to turn everyone into skanks to their FRAUD, especially young people which is meant to defame the character of WE THE PEOPLE.

    That’s what happens when BARNEY FRANK & CHRISTOPHER DODD get to write laws that privatize brothels & that was meant to ruin the U.S. economy by replacing money with fraudulently induced slavery.
    Not many can make the money it takes to pay for the brokers of their own FRAUD to run their brothels out of private residences to hide they’re unlawfully doing that.

  3. mike Drouin says:

    This is a dog and pony show for the American public to make it look like the DOJ actually is doing something they are very much involved in covering up !!! The system is so corrupt , that they have to stage events like this !!!! and yes , they think your that stupid to believe it !!!!

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