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CNBC Video - Bank of America Paid Bonuses To Foreclose: Lawsuit

CNBC Video - Bank of America Paid Bonuses To Foreclose: Lawsuit

Published: Monday, 17 Jun 2013 | 11:31 AM ET
By: John W. Schoen | Economics Reporter

Bank of America routinely denied qualified borrowers a chance to modify their loans to more affordable terms and paid cash bonuses to bank staffers for pushing homeowners into foreclosure, according to affidavits filed last week in a Massachusetts lawsuit.

"We were told to lie to customers," said Simone Gordon, who worked in the bank's loss mitigation department until February 2012. "Site leaders regularly told us that the more we delayed the HAMP [loan] modification process, the more fees Bank of America would collect."

In sworn testimony, six former employees describe what they saw behind the scenes of an often opaque process that has frustrated homeowners, their attorneys and housing counselors.

Read more: http://www.cnbc.com/id/100818866

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Hate BOA more than any other bank. They received the most in

bailouts yet, they harrass me for a charge card I knew better than to receive. I have always believed in paying back and making things right, until you and I bailed them out and we get stuck with the inflation. They are true scum nonetheless. And isn't it funny how the worst banks and corporations have names like Bank of America and Federal Reserve are the worst of the worst.

More foreclosures = More

More foreclosures = More bailout $$

Is This The Same Bank of America.....

.....that took $40 billion of TARP money?

Ed Rombach

...and still getting billions per year

since... from the Fed? Yep. That's the one.

"If you want something you've never had before, you have to do something you've never done before." Debra Medina

Oh Yeah

I can sense the banker prosecutions just around the corner. After all, Obama ran on a pro-civil liberties, anti-war, government transparency, tough-on-Wall Street platform. And so far he has been a man of his word.

HANG THE BANKERS!

HANG THE BANKERS!

shine on

you CRAZY DIMON !

Why?

IS THERE NO PUBLIC OUTRAGE?

CNBC is a government SHILL---& Boomer Golfers

They cheerlead, when things are awful for the masses, and they get boo-hissy when things are bad for the Federal Reserve, Big Banks as JPMorgan & Goldman Sucks, and the elitist politicians!

I'm NOT surprised the markets are marching UP, because they are HOPING the baby boomer golfers stay on the course & not on their pc's.

But, I have news for these guys. Golfers are TALKING big-time *after* they golf, when they are drinking and eating.

For the love of god

why are there no prosecutions of bankers?

rule of law--all gone

.

"If you want something you've never had before, you have to do something you've never done before." Debra Medina