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DOJ ruling against Bank of America reversed on appeal
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Banking, Case Law
Tuesday, May 24, 2016
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The Second Circuit Court of Appeals this week reversed a $1.2 billion ruling against Bank of America in a lawsuit brought by the Department of Justice for mortgage fraud related to Countrywide Home Loans’ “Hustle” program in 2007-2008. The appellate court said the key issue focused on whether a breach of contract supported a claim for fraud. Read on for details of how the court came to its decision.
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