loans

Business
1:09 pm
Thu January 30, 2014

Feds Seeking $2.1B From Bank Of America

Credit Jennifer Lang / WFAE

The U.S. Attorney General’s office is seeking to more than double the fines Bank of America faces for fraudulent mortgages that helped lead to the financial crisis.

The federal government is asking for $2.1 billion in damages, the total amount it says Bank of America’s Countrywide unit received for its defective loans from Fannie Mae and Freddie Mac in 2007 and 2008. The new number is a substantial increase from the $863 million plaintiffs had sought, representing the amount they say Fannie and Freddie lost from the loans in 2007 and 2008.

Read more
Local News
8:25 am
Tue December 17, 2013

North Carolina Sues Online Lending Companies

An exhibit from North Carolina's lawsuit, showing Western Sky's loans and rates.
Credit North Carolina Office of the Attorney General

The state attorney general has filed a lawsuit against an online lending company for making predatory loans with interest rates in some cases over 300 percent. The state is one of many lining up for a piece of Western Sky.


Read more