U.S. Criticizes BofA |
| Wall Street Journal - Jun 14, 2011 |
A U.S. official said Bank of America Corp. "significantly hindered" a federal investigation of the company's foreclosure practices.
In a seven-page statement filed June 8 in an Arizona state court in Phoenix, William W. Nixon, a Department of Housing and Urban Development assistant regional inspector general, detailed numerous examples in late 2010 when officials of the Charlotte, N.C., bank allegedly failed to cooperate with investigators.
Mr. Nixon said Bank of America lawyers refused "on a number of occasions…to allow employees to answer questions" about changes in the company's foreclosure process.
When HUD investigators tried to conduct a previously scheduled "walkthrough of the document execution group," an outside lawyer and a Bank of America vice president "asserted that they did not understand the need for a walk-through and instead showed my staff a set of file cabinets," Mr. Nixon said.
Read Full Article from Wall Street Journal
- Posted: 2011-06-14 13:33:04
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