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Bank of America Contests $2.1 Billion Fine

HeadlineFeb 28, 2014

In financial news, Bank of America is contesting a $2.1 billion fine sought by the Obama administration over defective mortgages sold by the bank’s Countrywide unit. Bank of America is arguing the fine should be based on the amount of profit it made by selling the flawed loans, which it says was nothing.

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