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Judge orders BofA to pay $1.3 billion in ‘Hustle’ case
News and Observer: A federal judge in New York ruled Wednesday that Bank of America should pay $1.27 billion in civil penalties after a jury found its Countrywide unit liable for knowingly selling bad home loans to Fannie Mae and Freddie Mac.
The ruling comes nine months after the jury ruled against the Charlotte bank in the so-called “Hustle” case, which stemmed from a whistleblower lawsuit filed by a former Countrywide Financial Corp. executive.
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