Hi there,

In this chaotic news cycle it may be tempting to tune out, but we hope you won’t—only an informed and engaged public can defend democracy. In these times of deep political polarization we need news that goes beyond play-by-play headlines, news that goes to the heart of each story by asking people to tell their own stories of abuses of power and injustice in their own words. If our journalism is important to you, please donate today. Thanks to a group of generous donors, all donations made today will be DOUBLED, which means your $15 gift is worth $30. Every dollar makes a difference. Thank you so much.

Democracy Now!
Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.

Donate

Lawsuit Accuses Banks of Defrauding Veterans, Taxpayers

HeadlineOct 05, 2011

Some of the nation’s largest banks are being accused of defrauding military veterans and taxpayers out of hundreds of millions of dollars. In a new lawsuit, companies including Wells Fargo, Bank of America, JPMorgan Chase, CitiMortgage, Countrywide Home Loans, Washington Mutual Bank and GMAC Mortgage are accused of illegally raking in hundreds of millions of dollars through hidden fees in the refinancing of veterans’ homes. The loans have been available under a government provision for retired or active-duty veterans. The case was brought by two whistleblowers who work as mortgage brokers in Georgia. They allege over one million veterans may have been subjected to fraud, and that the fees may have pushed tens of thousands of loans into default or foreclosure, at massive cost to taxpayers.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top