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Manhattan Federal Court

The U.S. District Court in Manhattan, via Judge Jed Rakoff, orders Bank of America to pay $1.27 billion in damages relating to the housing bubble-era actions of what is now its Countrywide unit.

A federal judge on Wednesday ordered Bank of America Corp (BAC.N) to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp.

  1. Reuters (Image)