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US sues Bank of America for fraud over mortgage bonds

A man withdraws cash from a Bank of America automated teller machine (ATM) in Hollywood on October 24, 2012. The US Tuesday filed suit against Bank of America for defrauding investors over the sale of $850 million in mortgage-backed securities ahead of thThe US government on Tuesday sued Bank of America for defrauding investors in the sale of $850 million in mortgage-backed securities ahead of the housing bust.