August 16, 2016 / 7:15 PM / 3 years ago

10th Circuit revives racketeering claims against Bank of America

Bank of America and a Colorado outsourcing firm will have to face a lawsuit accusing them of sabotaging homeowners’ efforts to modify their mortgages, a federal appeals court has ruled.

The decision on Monday by the 10th U.S. Circuit Court of Appeals revives a 2013 proposed class action accusing Bank of America and Urban Settlement Solutions of violating the U.S. Racketeer Influenced and Corrupt Organizations (RICO) Act by conspiring to deny government-sponsored mortgage assistance to thousands of qualified homeowners.

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