U.S. Sues Bank Of America For Mortgage Fraud | WAMU 88.5 - American University Radio
Filed Under:

U.S. Sues Bank Of America For Mortgage Fraud

Play associated audio
The government sued Bank of America on Wednesday, claiming it stuck taxpayers with losses by intentionally selling dodgy home loans to the government-backed mortgage companies Fannie Mae and Freddie Mac. The civil suit, filed by the U.S. attorney in New York, seeks at least $1 billion in damages. The government says Countrywide Financial, a mortgage lender acquired by Bank of America in 2008, had a system called "the hustle" that skirted quality control to quickly sell defective mortgages to Fannie and Freddie.
NPR

Impressionist Hero Édouard Manet Gets The Star Treatment In Los Angeles

Manet was not himself an Impressionist, but he mightily influenced the movement. Two of his paintings are now in L.A. The Railway is making its West Coast debut, and Spring just sold for $65 million.
NPR

Stone Age Britons Were Eating Wheat 2,000 Years Before They Farmed It

Scientists have recovered cultivated wheat DNA from an 8,000-year-old submerged site off the British coast. The finding suggests hunter-gatherers were trading for the grain long before they grew it.
WAMU 88.5

Paycheck Politics And The Homeland Security Bill

Homeland Security Secretary Jeh Johnson is blasting Republicans who claim that the department's workers can weather a temporary shutdown if Congress can't finish legislation to fund the department by the end of Friday.

NPR

Fines Remain Rare Even As Health Data Breaches Multiply

Since 2009, a federal watchdog has levied only 22 penalties against health care organizations for failing to safeguard information about patients.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.