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Bank of America Paid Bonuses to Foreclose: Lawsuit

Business  (tags: Banks, Mortgages, Lawsuiits, Bank of America Corp, Politics and Government, Massachusetts )

- 1831 days ago -
"We were told to lie to customers," said Simone Gordon, who worked in the bank's loss mitigation department until February 2012.

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Kit B (276)
Monday June 17, 2013, 12:16 pm

I can't say I'm surprised but I am disgusted. BOA and the rest of these "too big to fail" banks are also just big enough to be beyond the law, apparently.

Joanne D (38)
Monday June 17, 2013, 12:21 pm
Of course this makes me furious, but until and unless the entire country gets as furious as I am, nothing will change. Elizabeth Warren simply cannot do it all by herself. If the Justice Department will not prosecute (and apparently they will not), the banks simply need to be broken down into small enough units that the bank officers can be prosecuted. The wrong people are getting hurt, and the wrong people are in prison.

Jason S (50)
Monday June 17, 2013, 6:25 pm
Good posting, thanks

Roger G (154)
Monday June 17, 2013, 7:23 pm
noted, thanks!

Past Member (0)
Tuesday June 18, 2013, 1:18 am
I guess they believe rules are made to be broken ~ I'm not surprised at anything BOA does. Thank you for sharing this Judy ~ noted with disgust.

Many Feathers (139)
Tuesday June 18, 2013, 5:56 am
noted with distaste...

Gloria p (304)
Tuesday June 18, 2013, 6:43 am
Lock them up!

Katie & Bill D (107)
Tuesday June 18, 2013, 9:26 am
Yes , Bad track record for Years!

Jonathan Harper (0)
Tuesday June 18, 2013, 12:45 pm

Fred Krohn (34)
Tuesday June 18, 2013, 12:49 pm
This sort of garbage by TARP and bailout banks has caused them to permanently lose my business. BoA is on boycott.

Bette-Ann Libin (11)
Tuesday June 18, 2013, 1:15 pm
Bank of America was founded on the principles of fair banking opportunities for EVERYONE. Particularly noted for advancing the banking heath of our underserved and poor communities back in the day.Truly hard to believe when we look at this bank today. Heinous, unconscionable and ruthless tactics have devastated millions of peoples' lives so dramatically and yet they sleep at night. When they demonstrated NO mercy and foreclosed on our returning Vets, I ended my relationship with them by selling my house and thus paying them off! Never felt better in my life.

I just don't get it...perhaps BofA qualifies as a sociopathic bank, unfortunately there is no medicine for this disease.

Birgit W (160)
Tuesday June 18, 2013, 1:35 pm
Why am I not surprised. This is just evil.

Debra Tate (17)
Tuesday June 18, 2013, 1:52 pm
Noted. Thanks. Shame on them! Glad I don't bank there!

Dianna M (16)
Tuesday June 18, 2013, 2:10 pm
Just Bank of America? I've heard so many horror stories about foreclosure nightmares caused by different banks, I'd be really surprised if this particular disgusting incentive were confined to only BofA.

Kathleen R (138)
Tuesday June 18, 2013, 6:12 pm
noted & read,

Aurea Aurea Walker (226)
Tuesday June 18, 2013, 6:57 pm
B of A, chase bank, Wells Fargo et al..... are in business because we "support them" go to do your banking at small local banks, credit unions! The only way to destroy the too big to fail banks/vampire$ is to stop giving them our money/blood. That WILL destroy them. It may take some time but if we unite to fight back at these banks they will FAIL! They feed off of us, cut the money supply and things WILL CHANGE. We forget that we must unite and fight!

Past Member (0)
Tuesday June 18, 2013, 7:53 pm
Hang all the top Wall Street banksters!

Lona G (79)
Wednesday June 19, 2013, 3:19 am
And it probably isn't just the BoA.

Theodore Shayne (56)
Wednesday June 19, 2013, 6:41 am
Greedy, malevolent miscreants who think nothing of causing needless pain and suffering for countless millions. Don't even get me started on the sub prime loan scandal which has resulted in this. Then there's the backdating scandal where they were caught foreclosing on PIFd mortgages.

Winnie A (179)
Wednesday June 19, 2013, 6:49 am
No Surprise here unfortunately.

John De Avalon (36)
Wednesday June 19, 2013, 8:52 am
Shabby behaviour that can only serve to erode what little public confidence in the banking system remains...
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