New Tales of Mortgage Misconduct Put Bank of America's Recovery in Jeopardy

Just when you thought that Bank of America (NYSE: BAC  ) had some of its mortgage-related troubles handled, a new set of allegations pop up. With the latest round coming straight from primary sources, the bank may have a harder time fighting off the stigma that will inevitably latch on to its reputation.

While other mortgage lenders, including Wells Fargo (NYSE: WFC  ) which was named in a suit along with B of A from the New York Attorney General's office, have some lingering issues of their own, Bank of America may be the biggest loser of the group. In the video below, Motley Fool contributor Jessica Alling discusses the new allegations and why B of A's chances of a strong recovery could be in jeopardy.

Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials bureau chief, lift the veil on the bank's operations, including detailing three reasons to buy and three reasons to sell. Click here now to claim your copy.


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  • Report this Comment On June 19, 2013, at 11:44 PM, alabamldy wrote:

    Where have you been? Bank of America has been foreclosing on families illegally for years. Families would request help in keeping their homes and Bank of American would delay or not answer people and would give them the runaround till it was too late for the family to save their home. Bank of America wanted to foreclose on as many houses as they could. I have read so many of these stories on the internet it's not funny. I call them the Bank of Shame! I would never do business with them! They should not be allowed to use the word America in their title.

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