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Financial Crisis Villain Unclear Why Everybody's So Mad At Him

The Huffington Post | Mark Gongloff | Posted 09.02.2014 | Business

Angelo Mozilo, the former CEO of Countrywide Financial, wants everybody to stop being so mad at Angelo Mozilo. Mozilo recently took a break from go...

Big Press on Bank of America Treatment of Whistleblower Michael Winston -- But, You'll Have to Read German!

Jerry Ashton | Posted 09.07.2014 | Business
Jerry Ashton

Germany's respected Handelsblatt, that country's parallel to the Wall Street Journal, recently devoted an entire section and a featured interview to the deliberate and ongoing crushing of American Michael Winston's finances and spirit by one of our country's largest banks.

BofA Lawyer Calls Fraud Case 'Easter Egg Hunt'

Reuters | Posted 01.23.2014 | Business

By Nate Raymond NEW YORK, Oct 22 (Reuters) - The U.S. government has failed to produce any evidence to show that Bank of America Corp'...

Mark Gongloff

Government Names Individual In Subprime Mortgage Lawsuit | Mark Gongloff | Posted 01.31.2013 | Business

The U.S. government has sued a specific individual in a major case alleging fraudulent subprime mortgage sales in the lead up to the financial crisis....

Rep. Kept 'VIP' Product Secret

AP | LARRY MARGASAK | Posted 10.15.2012 | Politics

WASHINGTON — A Democratic committee chairman overrode his own subpoena three years ago in an investigation of former subprime mortgage lender Co...

Greg Rosalsky

Key House Republican Under Fire For Countrywide Loan | Greg Rosalsky | Posted 07.10.2012 | Politics

WASHINGTON -- The Democratic challenger to Rep. Howard "Buck" McKeon (R-Calif.) said Monday that the high-ranking House member should "pay back" the s...

Disgraced Lender Used Discounts To Buy Congress, Other Officials: Report

AP | LARRY MARGASAK | Posted 09.04.2012 | Business

WASHINGTON — The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discoun...

BofA Takes Four Years To Pay A Woman's Wrongful-Foreclosure Settlement

The Huffington Post | Alexander Eichler | Posted 06.29.2012 | Business

One Texas woman finally got the $300,000 that Bank of America owed her. And it only took four years. The Southeast Texas Record has the whole sad s...

Ben Hallman

Whistleblowers, Beware: Most Claims End In Disappointment, Despair | Ben Hallman | Posted 06.04.2012 | Business

At first glance, James Holzrichter's decision to tell the government his employer's dirty secrets appears to have worked out rather well. He won $...

Former Countrywide Employee Headed To Prison For Mortgage Fraud

The Huffington Post | Bonnie Kavoussi | Posted 03.13.2012 | Business

The federal government is bringing a little justice to the mortgage mess, even if there was a five year delay. Paige Kinney of Phoenix, a former C...

BofA's Brian Moynihan Gets HOW Much After A Pay Cut?

AP | Posted 04.18.2012 | Business

CHARLOTTE, N.C. (AP) — Bank of America's chief executive is taking a pay cut. Brian Moynihan will be eligible for up to $5.9 million ...

Details Emerge On Congressman's Sweetheart Deal

AP | Posted 02.13.2012 | Politics

LOS ANGELES -- Documents detail the terms of a discounted mortgage loan received by U.S. Rep. Howard McKeon from the now-defunct Countrywide Financial...

Loren Berlin

2008 Mortgage Deal Shows How Not To Structure Current Settlement | Loren Berlin | Posted 02.04.2012 | Business

As states gear up to finalize a national mortgage servicing settlement, some are looking to avoid the painful lessons of a 2008 mortgage deal that fai...

Government Seeks To Recompense Victims Of Countrywide

The Huffington Post | Bonnie Kavoussi | Posted 12.27.2011 | Business

The government would like to repay more than 200,000 minority borrowers who allegedly paid unfairly high interest rates and fees on mortgages, but fir...

Congresswoman Marcy Kaptur Confronts MF Global and Wall Street

Janet Tavakoli | Posted 02.25.2012 | Business
Janet Tavakoli

When it comes to fraud, if you don't look for it, you don't find it, because when it comes to fraud, there is always a cover-up.

That $335 Million BofA Settlement: The Good, the Bad, and the Very Ugly

Richard (RJ) Eskow | Posted 02.20.2012 | Politics
Richard (RJ) Eskow

Once again, bankers have bought their way out of being investigated without even acknowledging their wrongdoing. Justice isn't served when that happens.

Firm That Extracted Billions From BofA Sets Its Sights On JPMorgan

Posted 12.16.2011 | Business

A law firm that led mortgage bondholders to extract a $8.5 billion settlement from Bank of America Corp is turning its sights on JPMorgan Chase & ...

How Controversial Perry Plan Backfired

AP | JACK GILLUM | Posted 12.03.2011 | Politics

WASHINGTON — As Texas governor, Rick Perry spent tens of millions in taxpayer money to lure some of the nation's leading mortgage companies to e...

Countrywide Covered Up Massive Fraud, Former Employees Say

iWatch News | Posted 11.22.2011 | Business

In the summer of 2007, a team of corporate investigators sifted through mounds of paper pulled from shred bins at Countrywide Financial Corp. mortgage...

Major Banks Engineered Decade-Long Kickback Scheme, Investigators Say

American Banker | Jeff Horwitz | Posted 11.06.2011 | Business

Many of the country's largest banks received $6 billion in kickbacks from mortgage insurers over the course of a decade, according to a previously und...

Federal Agency Wants Details On Multi-Billion BofA Settlement

AP | Posted 10.31.2011 | Business

By Associated Press WASHINGTON -- Fannie Mae and Freddie Mac are asking for more information about a proposed $8.5 billion settlement between Bank ...

Federal Agency Objects To Bank Of America's $8.5 Billion Settlement

The Huffington Post | Alexander Eichler | Posted 10.29.2011 | Business

In June, a director at Bank of America described the company's 2008 acquisition of Countrywide Financial -- the mortgage lender whose holdings include...

Matt Taibbi: NY Attorney General Vs. The Banking World

Rolling Stone | MATT TAIBBI | Posted 10.25.2011 | Business

On the one side is Eric Schneiderman, the New York Attorney General, who is conducting his own investigation into the era of securitizations – the p...

Bank Of America Hit With New Countrywide Lawsuit

AP | Posted 09.29.2011 | Business

NEW YORK -- Bank of America Corp. is facing a new lawsuit filed by a group of shareholders of mortgage giant Countrywide Financial Corp., which the ba...

Should Homeowners Be Jailed For Taking Out Bad Loans?

Posted 05.28.2011 | Business

To date, not a single mortgage lender has been sent to prison for their role in the financial crisis. At least one borrower hasn't been so lucky. C...