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U.S. government seeks $863.6M following BofA fraud ruling

The government also asked for penalties against former Countrywide executive Rebecca Mairone

On the heels of a federal jury ruling that Bank of America Corp. was liable for fraud over defective mortgages sold by its Countrywide unit, the U.S. government has called upon the country’s second largest lender to shell out $863.6 million in damages.

The government also asked for penalties against Rebecca Mairone, a former executive at the bank’s Countrywide unit who the jury also found liable, “commensurate with her ability to pay,” according to a Nov. 8 filing in U.S. District Court in Manhattan.

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Erin E. Harrison

Erin E. Harrison is the Editor in Chief of InsideCounsel magazine. Harrison’s professional background includes extensive expertise in both print and online media, highlighted by...

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