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Judge Affirms Fraud Law Against Banks

Courtesy of www.radiboy.com via Google Images.

Courtesy of www.radiboy.com via Google Images.

 

U.S. District Judge Jed Rakoff in New York has endorsed the Financial Institutional Reform, Recovery, and Enforcement Act (FIRREA). The most recent decision happened last October in a case brought against Bank of America by the Justice Department. The government claims that mortgage programs used by the bank empire sped up certain home loan processes by removing critical checkpoints, which resulted in thousands of defective mortgages. To get all the details on the trial set for September 23rd, click HERE.