(Source: Bloomberg Businessweek) – Nevada’s attorney general wants a federal judge in a big mortgage fraud case to set aside an earlier consent judgment so the state can sue Countrywide Financial Corp. and Bank of America for consumer fraud.Catherine Cortez Masto filed new papers in U.S. District Court in Reno on Tuesday accusing Countrywide of routinely misrepresenting the nature and terms of mortgages, ensnaring thousands of consumers in loans they did not understand and could not repay.

Source: Bloomberg Businessweek

August 31, 2011, 11:05AM ET

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