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The Boston Globe

Business

Bank awarded bonuses for foreclosures, lawsuit says

NEW YORK — Bank of America Corp. rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees say in court documents.

Mortgage workers falsified records and were told to delay loan-assistance applications by requesting paperwork that the second-biggest US lender had already received, according to statements from former employees filed last week in federal court in Boston.

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