November 22, 2016
The U.S. Department of Justice has opted not to appeal the Second Circuit's May dismissal of a roughly $1.3 billion penalty against Bank of America for a financial crisis-era mortgage program, as prosecutors did not lodge an appeal by Monday's deadline.
August 22, 2016
The Second Circuit on Monday refused to rehear its decision tossing a roughly $1.3 billion penalty against Bank of America for a financial crisis-era mortgage program, rejecting a request by the U.S. Attorney's Office in Manhattan, which said the ruling overlooked important evidence.
August 04, 2016
The U.S. Attorney's Office in Manhattan asked the Second Circuit on Thursday to reconsider its decision to toss a $1.3 billion penalty against Bank of America for a financial crisis-era mortgage program, arguing that the decision overlooked important evidence.
May 23, 2016
The Second Circuit on Monday threw out a New York district court judge's $1.3 billion penalty against Bank of America over a financial crisis-era mortgage program, determining that the bank can't be held liable for fraud for what may have been an intentional breach of contract.
December 16, 2015
A lawyer for Bank of America on Wednesday urged the Second Circuit to throw out a nearly $1.3 billion penalty over a financial crisis-era mortgage program, calling the fine "preposterous" and accusing civil prosecutors of improperly expanding the reach of a decades-old fraud law.
August 05, 2015
A top financial reform advocacy group on Tuesday urged the Second Circuit to uphold a $1.3 billion penalty against Bank of America Corp. for allegedly ripping off Fannie Mae and Freddie Mac through a mortgage program nicknamed "Hustle," defending the government's use of a controversial anti-fraud law.
May 07, 2015
Some of Wall Street's most powerful lobbying groups are going to bat for Bank of America Corp. in its Second Circuit appeal of a $1.3 billion fine for allegedly defrauding Fannie Mae and Freddie Mac through a fast-track mortgage program nicknamed "Hustle."
April 22, 2015
Bank of America Corp. told the Second Circuit on Wednesday to wipe away a $1.3 billion fine for defrauding Fannie Mae and Freddie Mac through a program designed to speed up mortgage issuing, arguing that a banking law was stretched to apply to the case.