SAN FRANCISCO, Dec 17 (Reuters) – The state of Arizona has sued Bank of America Corp (BAC.N) alleging the lender consistently misled consumers about its home loan modification process, a source familiar with the situation said.
The lawsuit, filed by Arizona Attorney General Terry Goddard’s office on Friday, accuses Bank of America of violating a 2009 consent judgment in which it committed to widespread loan modifications, according to a draft copy of the complaint obtained by Reuters.
The suit was filed in an Arizona state court. In it, Goddard’s office also accuses the bank of violating the state’s consumer fraud act.
Continue reading here…
Also, Nevada Attorney General sues too. Here is the story:
Las Vegas: Attorney General Catherine Cortez Masto announced today that her office is filing a lawsuit against Bank of America Corporation, N.A., BAC Home Loans Servicing, LP, Recon Trust Company ("Bank of America") for engaging in deceptive trade practices against Nevada homeowners.
The lawsuit, filed in the Eighth Judicial District of the State of Nevada, was triggered by consumer complaints and follows an extensive investigation into Bank of America's alleged deceptive practices involving its residential mortgage servicing, particularly its loan modification and foreclosure practices.
The Complaint alleges that Bank of America is:
Read on.
No comments:
Post a Comment