Prosecutors Seek $864M Fraud Payout From BOA

The U.S. government has filed a motion that would require Bank of America to pay $864 million in penalties for fraudulent practices in its Countrywide unit, Reuters reported on November 9.

Federal prosecutors are asking for damages following a jury’s conclusion that the bank was liable for fraud during the run-up to the 2008 financial crisis.

To learn more about the ongoing Countrywide fraud case, read the full story here.