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Bank of America lawsuit 10-24 2012

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Bank of America sued for $1 billion for defrauding Fannie Mae, Freddie Mac
Bank of America, the second largest in the US, allegedly misrepresented the quality of home loans and left tax payers with huge loses.
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Bank of America lawsuit: US sues over bad loans
Government seeking $1 billion over loans to Fannie Mae, Freddie Mac
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Bank of America lawsuit 10-24 2012

The US government sued Bank of America on Oct. 24, 2012 for $1 billion over allegedly bad loans sold to Fannie Mae and Freddie Mac.

Spencer Platt
AFP/Getty Images