The largest US bank, Bank of America, has been facing two mortgage lawsuits. Apparently, the bank has been accused of misleading investors about their mortgage-backed securities, at the same time as processing foreclosures improperly and hiding mortgage debt exposure. The cases are: Pennsylvania Public Employees’ Retirement System v. Bank of America Corp et al in the same court, No. 11-00733; and Public Employees’ Retirement System of Mississippi et al v. Merrill Lynch & Co et al, U.S. District Court, Southern District of New York, No. 08-10841.
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NY judges order BofA to face two mortgage lawsuits
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