Bank of America has officially won its battle against the Department of Justice six months after an appeals court threw out the $1.27 billion penalty against the bank for selling toxic RMBS.
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Court Denies Government’s Bid for New Trial in BOA ‘Hustle’ Case
Having dismissed a $1.27 billion penalty against Bank of America for the High Speed Swim Lane (HSSL, or "Hustle" program) in May, the 2nd Circuit Court of Appeals ruled in favor of the bank again on Monday.
Read More »Government Seeks New Trial in BOA ‘Hustle’ Case
In May, an appellate court overturned a $1.27 billion penalty against Bank of America for Countrywide's "Hustle" verdict. But the government isn't letting the case go away just yet.
Read More »Bank of America Asks Appeals Court to Throw Out $1.27 Billion Penalty—and Remove Judge
The U.S. Department of Justice sued Bank of America in August 2013, accusing the bank's Countrywide division of misrepresenting the mortgage-backed securities it sold to Fannie Mae and Freddie Mac in the years leading up to the financial crisis through a program known as the High Speed Swim Lane (HSSL, commonly known as "Hustle").
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