DOJ May Launch Civil RMBS Suit Against Bank Of America

Law360, Los Angeles (October 30, 2013, 9:19 PM EDT) -- A U.S. attorney’s office has said it intends to recommend that the U.S. Department of Justice file a civil suit against affiliates of Bank of America Corp. related to the securitization of residential mortgage-backed securities, according to a BofA regulatory notice filed Wednesday.

BofA’s Form 10-Q filing with the U.S. Securities and Exchange Commission comes a month after due diligence giant Clayton Holdings LLC said the DOJ was probing 16 financial institutions as part of its investigation of the underwriting and bundling of RMBS that caused...
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