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>> THE NEW YORK TIMES Latest News

JUN 14, 2013 - Business Insider

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Former Workers Allege Bank Of America Lied To Home Owners And Rewarded Employees Who Foreclosed On Homes (BAC)

(Reuters) - Six former Bank of America Corp employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied to them about the status of their mortgage payments and documents. The bank allegedly used these tactics to shepherd homeowners into foreclosure, as well as in-house loan modifications. Both yielded the bank more profits than the government-sponsored Home Affordable Modification Program, according to documents recently filed as part of a lawsuit in Massachusetts federal court. The former employees, who worked at Bank of America centers ... Read More

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