U.S. seeks $2.1 billion from Bank of America in fraud case

The U.S. government has raised the amount it is seeking in penalties from Bank of America Corp (BAC) to $2.1 billion after a jury found the bank was liable for fraud over defective mortgages sold by its Countrywide unit. The request in a court filing late on Wednesday for $2.1 billion was based on gross revenue generated by the fraud, the government said. The Justice Department had previously asked for $863.6 million. The initial request was based on gross losses it said government-sponsored mortgage finance companies Fannie Mae (FNMA) and Freddie Mac (FMCC) incurred on loans purchased from Countrywide Financial Corp in 2007 and 2008.

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