This is despicable! And to think anyone EVER thought to bail out banks!
“Some examples of BoA’s nefarious alleged tactics, from the affidavits and ThinkProgress:
- BoA instructed employees not to process customers’ financial documents for 30 days after they came in. After 30 days they were to mark them “stale” and require borrowers to refile their applications.
- Applications that escaped this treatment were denied 60 days after they were received, even if they were in perfect order. Employees made up lies to justify the denials.
- BoA instructed telephone representatives to tell all borrowers who called that their applications were “under review,” even when no one had looked at them.
- Bank staff would cancel loan modifications on the completely false pretext that borrowers had missed payments.
- BoA bribed employees to meet foreclosure quotas with gift cards and bonuses.”