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  • Genk, Belgium
    Wednesday Oct 24, 2012

    Ford

    Closing in Genk

    Genk, Belgium
    Wednesday Oct 24, 2012

    On October 24, 2012, Ford announced that it would be closing its Genk assembly plant in eastern Belgium by the end of 2014.




  • New York City, New York, U.S.
    Wednesday Oct 24, 2012

    Bank of America

    Top federal prosecutor in Manhattan filed a lawsuit alleging that Bank of America fraudulently cost American taxpayers more than $1 billion

    New York City, New York, U.S.
    Wednesday Oct 24, 2012

    On October 24, 2012, the top federal prosecutor in Manhattan filed a lawsuit alleging that Bank of America fraudulently cost American taxpayers more than $1 billion when Countrywide Financial sold toxic mortgages to Fannie Mae and Freddie Mac. The scheme was called 'Hustle', or High-Speed Swim Lane.




  • U.S.
    Wednesday Oct 24, 2012

    Bank of America

    American federal prosecutors filed a $1 billion civil lawsuit against Bank of America for mortgage fraud under the False Claims Act

    U.S.
    Wednesday Oct 24, 2012

    On October 24, 2012, American federal prosecutors filed a $1 billion civil lawsuit against Bank of America for mortgage fraud under the False Claims Act, which provides for possible penalties of triple the damages suffered. The government asserted that Countrywide, which was acquired by Bank of America, rubber-stamped mortgage loans to risky borrowers and forced taxpayers to guarantee billions of bad loans through Fannie Mae and Freddie Mac. The suit was filed by Preet Bharara, the United States attorney in Manhattan, the inspector general of FHFA, and the special inspector for the Troubled Asset Relief Program.




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