bank-of-america

Bloomberg News
August 27, 2013, 4:41 p.m.

Bank of America Corp. must face a trial next month in a lawsuit alleging that its Countrywide unit defrauded Fannie Mae and Freddie Mac by selling them billions of dollars in bad mortgages, a federal judge ruled.

U.S. District Judge Jed Rakoff in Manhattan issued a ruling Tuesday rejecting the bank’s request to dismiss the case, putting it on track for a trial scheduled to begin Sept. 23.

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