Bank of America (NYSE:BAC) has been sued by the state of Arizona, with allegations they steadily misled customers about their home loan modification process.
Arizona Attorney General Terry Goddard filed the lawsuit on Friday, saying Bank of America violated the state's consumer fraud act.
The lawsuit also seeks $25,000 for alleged violations concerning a consent judgment concerning its loan services, which Arizona asserts partook in.
Bank of America was trading at $12.55, up $0.03, or 0.24 percent, as of 12:59 PM EST.
Friday, December 17, 2010
Bank of America (NYSE:BAC) Sued by Arizona
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