BANK OF AMERICA CEASE AND DESIST ORDER FOR CERTAIN DEFICIENCIES AND UNSAFE OR UNSOUND PRACTICES
By Daniel Edstrom
DTC Systems, Inc.
On April 13, 2011 the Office of the Comptroller of the Currency issued a Consent Cease and Desist Order. The order states that Bank of America has committed “deficiencies and unsafe or unsound practices identified by the OCC …” The OCC finds numerous problems to which the bank “neither admits nor denies”. Such as “failed to sufficiently oversee outside counsel and other third-party providers handling foreclosure-related services.”
Read the order here: http://dtc-systems.net/wp-content/uploads/2011/04/Consent_Order_for_Bank_of_America.pdf