BofA Loan Relief Terms Block Probe: Ariz. AG

Law360, New York (January 27, 2012, 7:06 PM EST) -- Arizona's attorney general asked a state judge earlier this month to stop Bank of America Corp. from forcing borrowers looking for loan relief to sign confidentiality and nondisparagement agreements, claiming the practice impedes a state investigation into the bank's loan modification program.

The settlement terms are “gagging Arizona consumers” and preventing them from turning over evidence that could be valuable to the state investigation, Arizona Attorney General Thomas Horne alleges, according to a motion filed Jan. 11 in connection with an ongoing legal dispute between the...
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