BofA’s Countrywide Accused in Lawsuit of ‘Massive Fraud’

Bank of America Inc.’s (BAC) Countrywide Financial unit, acquired by the bank in 2008, was accused of “massive fraud” in a lawsuit by investors who claim they were misled about mortgage-backed securities. TIAA-CREF Life Insurance Co., New York Life Insurance Co. and Dexia Holdings Inc. are among a dozen institutional investors who filed the complaint [...]