civil fraud

A sign marks the location of the Bank of America Corporate Center, which houses the corporate headquarters for Bank of America on July 11, 2012 in Charlotte, N.C. (credit: Scott Olson/Getty Images)

DOJ Files Lawsuit Against Bank Of America Over $850M Mortgage Bond Sale

The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and misled investors in its sale of $850 million of mortgage bonds during 2008.