Just when you thought that Bank of America had some of its mortgage-related troubles handled, a new set of allegations pop up. With the latest round coming straight from primary sources, the bank may have a harder time fighting off the stigma that will inevitably latch on to its reputation.
While other mortgage lenders, including Wells Fargo which was named in a suit along with B of A from the New York Attorney General's office, have some lingering issues of their own, Bank of America may be the biggest loser of the group. In the video below, Motley Fool contributor Jessica Alling discusses the new allegations and why B of A's chances of a strong recovery could be in jeopardy.
Bank of America's stock doubled in 2012. Is there more yet to come? With significant challenges still ahead, it's critical to have a solid understanding of this megabank before adding it to your portfolio. In The Motley Fool's premium research report on B of A, analysts Anand Chokkavelu, CFA, and Matt Koppenheffer, Financials bureau chief, lift the veil on the bank's operations, including detailing three reasons to buy and three reasons to sell. Click here now to claim your copy.
The article New Tales of Mortgage Misconduct Put Bank of America's Recovery in Jeopardy originally appeared on Fool.com.Fool contributor Jessica Alling has no position in any stocks mentioned -- you can contact her here. The Motley Fool recommends Bank of America and Wells Fargo. The Motley Fool owns shares of Bank of America and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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