Inside twin ties-ripoff litigation against Financial off America Corp
The borrowed funds ties incorporated therefore-named Paper Saver financing one to needed nothing documents from a good borrower’s money or power to shell out
, the us government is actually accusing the country’s second-biggest financial off lying to help you traders regarding supposedly prime money you to definitely a whole lot more closely resembled subprime liar financing.
The fresh new civil provides, filed Monday by the Fairness Service and you will Bonds and you can Replace Fee, focus on $850 billion in financial-backed securities one BofA issued during the 2008.
