[at Bloomberg] – Bank of America Corp.’s Countrywide unit should pay the maximum penalty of $2.1 billion for defective mortgage loans it sold to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, federal prosecutors told a judge in a court filing. U.S. District Judge Jed Rakoff in Manhattan is considering how much to penalize the bank following months of arguments over the size of the civil penalty Charlotte, North Carolina-based … [visit site to read more]
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