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New York Post: Bank of America’s $1.2B mortgage scam fine gets thrown out

"A Manhattan federal appeals court struck again on Monday — making life a bit easier for those on Wall Street looking to cut corners.

The Second Circuit Court of Appeals reversed a jury’s finding that a unit of Bank of America committed fraud by dumping shoddy mortgages on government-sponsored Fannie Mae and Freddie Mac leading up to the financial crisis."

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"But Dennis Kelleher, president of nonprofit group Better Markets, slammed the ruling as “turning law, logic and common sense on its head.”

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To read the full New York Post article by Kaja Whitehouse click here.

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