Read this Charlotte observer story on the suit. Here's an excerpt:
A lawsuit in federal court in Colorado accuses Charlotte-based
Bank of America of racketeering, in what amounts to more fallout for the
bank stemming from a federal mortgage-modification program. The suit, filed Wednesday, claims violations of the federal
Racketeer Influenced and Corrupt Organizations Act, also known as RICO.
It cites statements that former Bank of America employees made last
month in a separate, ongoing federal lawsuit in Massachusetts. Those
former employees, including at least one who worked in Charlotte, claim
the bank awarded cash and gift cards to them if they denied mortgage modifications to homeowners through the Home Affordable Modification Program.
