The US Tuesday filed suit against Bank of America for defrauding investors over the sale of $850 million in mortgage-backed securities ahead of the housing bust. The Department of Justice civil complaint alleges Bank of America lied to investors about the riskiness of the mortgage loans backing the securities, and intentionally avoided performing adequate due diligence on the mortgages, leading to investor losses surpassing $100 million.
GMT 08:07 2017 Friday ,28 AprilSony sees net profit more than tripling in current year
GMT 08:05 2017 Friday ,28 AprilRoyal Bank of Scotland rebounds into slender Q1 profit
GMT 08:03 2017 Friday ,28 AprilUBS says profits surged 79 percent in first quarter
GMT 08:01 2017 Friday ,28 AprilAfghan Taliban announce start of 'spring offensive'
GMT 07:53 2017 Friday ,28 AprilBritish counterterrorism police say they have uncovered plans for imminent operations
GMT 17:33 2017 Thursday ,27 AprilTwo US troops killed fighting IS in Afghanistan
GMT 17:31 2017 Thursday ,27 AprilKenya opposition names Raila Odinga as presidential candidate
GMT 17:29 2017 Thursday ,27 AprilIsraeli missile shoots down 'target' over Golan