Bank of America Corp. was not liable for fraud and subject to a penalty of over $1.2 billion for its actions before the economy collapsed in 2008 despite a jury's finding to the contrary, a federal appeals court ruled Monday.
WASHINGTON (AP) -- The government is considering suing banks and other mortgage servicers over alleged insurance kickbacks that may have cost government-controlled mortgage companies Fannie Mae and Freddie Mac hundreds of millions, according to an internal federal report.
A federal watchdog finds that government-controlled Fannie Mae and Freddie Mac may have lost more than $3 billion from big banks' alleged rigging of a key interest rate.