Banking Misconduct Blog


Independence Day, Bank of America, and Financial Tyranny (HAMP Post)

Topics:
-Bank of America Accused of Stealing Homes -Fighting Back Against Banks -The Truth about HAMP Modifications Today is July 4th and in thousands of communities, people will celebrate our independence with fireworks tonight. Independence from tyranny and a privileged ruling class....

Judge Accuses Bank of America of "Battle-Fatigued Demoralization"

A federal judge in Sacramento, California has given Bank of America a lesson in corporate responsibility. Bankruptcy Judge Christopher Klein sanctioned America's "Too Big to Care" banking giant up to $46 million for causing severe emotional distress to a California couple facing foreclosure. In the...

Bank of America Atty “Stonewalling”? - Lender Liability Post

The owners of a home taken by Bank of America have accused the bank and its lawyers of “stonewalling” efforts to prosecute the bank for wrongful foreclosure. Catarina and Alejandro Francisco claim that the bank’s lawyer improperly instructed a Bank of America employee to not...

Bank of America Faces Racketeering Charges (RICO)

One of the most powerful civil fraud statutes on the books is RICO – the Racketeer and Corrupt Organizations Act. Passed in 1970, the law was designed to pursue the Mafia. These days, the law can be used to prosecute many different types of wrongdoers, although most lawyers don’t...

Bank of America Settles Lender Liability Suit

Anyone who regularly reads our Due Diligence blog knows that we are not fans of Bank of America. The bank has paid over $20 billion in fines and penalties yet continues to misbehave. It is almost as if big fines have simply become a cost of doing business.
It’s not just the government...

Supreme Court Revives Lender Liability Suit against Bank of America

Nevada state law recommends that bank account owners check their monthly statements regularly for unauthorized or suspicious transactions and promptly report any findings. The statute of repose protects the bank from liability for unauthorized transactions that are not reported by the customer...

A Stonewalling Session with Brian Moynihan, CEO, Bank of America

Brian Moynihan, Bank of America’s chief executive officer, just filed his deposition with the court in late November. I’ve read eerily similar transcripts in mobster cases. Is there a Guinness World Record for the most stonewalling? Moynihan has to be right up there with the...