Rakoff Takes Broad View Of Bank Fraud Law In $1B BofA Suit
By Dietrich Knauth ( August 19, 2013, 8:19 PM EDT) -- U.S. District Judge Jed Rakoff on Monday explained his decision not to dismiss a $1 billion mortgage fraud suit against Bank of America, saying that plain language of the Financial Institutions Reform Recovery Enforcement Act allows civil prosecutors to go after "self-affecting" fraud at federally insured financial institutions....
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