Federal investigators keep close eyes on Bank of America’s mortgage compliance

While it’s still settling multibillion-dollar tabs tied to the mortgage meltdown, Bank of America faces new legal pressure

Federal investigators are looking into whether Bank of America violated requirements of a U.S. government housing program. The civil division of the U.S. Attorney's Office for the Eastern District of New York is currently investigating Bank of America's compliance with the rules of the Federal Housing Administration's Direct Endorsement Program.

According to The Chicago Tribune, the bank’s annual report filed with the U.S. Securities and Exchange Commission, states that government authorities in North America, Europe and Asia are also investigating its practices in foreign exchange markets as part of a broader industry inquiry.

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Amanda Ciccatelli

Amanda G. Ciccatelli is a Contributing Writer for InsideCounsel, where she covers the patent litigation space. Amanda earned a B.A. in Communications and Journalism from...

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