Bank Of America 'Significantly Hindered' Federal Investigation, U.S. Official Says

[kpete]

Source: Huffington Post

Bank Of America 'Significantly Hindered' Federal Investigation, U.S. Official Says

NEW YORK -- Bank of America, the largest U.S. bank by assets, "significantly hindered" a federal investigation into the firm's faulty foreclosure practices on potentially billions of dollars worth of taxpayer-backed loans, a federal auditor told an Arizona court.

The bank withheld key documents and data, prevented investigators from interviewing bank employees or asking certain questions, and was slow to provide information, according to a June 1 declaration by William W. Nixon, a fraud examiner and assistant regional inspector general for audit for the U.S. Department of Housing and Urban Development inspector general's office.

Due to Bank of America's "reluctance," Nixon resorted to asking the Justice Department to issue so-called civil investigative demands last December to compel testimony, a "less effective" means of carrying out its investigation, Nixon said. His office can't compel testimony on its own.

Bank of America, the largest handler of home loans in the U.S., threw up roadblocks to the investigation, Nixon said, like preventing his team from performing a "walkthrough" of the bank's documents unit.



Read more: http://www.huffingtonpost.com/2011/06/13/bank-of-america-significantly-hindered-federal-investigation_n_876408.html

[Gman]

1. So BOA's solution will be to work and spend like hell to beat Obama

No Obama, no problem. Then they can do what they damn well please again.

[Citizen Worker]

3. B of A could simply shut off the money spigot to Obama's re-election campaign.

[Citizen Worker]

4. BofA could simply order the shut off of the money spigot to the Obama campaign.

[MisterP]

5. ugh, now they'll say we can't investigate mortgage fraud because that means you want President Palin

[DeSwiss]

2. K&R

- New fashion for banksters, from Brooks Brothers.....

[No Elephants]

6. Are we going to prosecute the individuals responsible or not? Because as long as we don't

prosecute the human beings, we are inviting this kind of thing.

[hobbit709]

7. Time to set up a guillotine on Wall St.

[leftyohiolib]

8. "there's no bread let em eat cake. there's no end to what they'll take

flaunt the fruits of noble birth. wash the salt into the earth." neil peart

[fascisthunter]

10. Paint it Gold and Replace the Bull

just as a reminder to the greedy who love making money off of others money.

[Ignis]

9. K&R, with a healthy lack of surprise.

:kick:

[woo me with science]

11. K&R nt

[JosefK]

12. Corporations are people to...

off to Rykers BofA!

[sarcasmo]

13. Skank of America needs to be destroyed.