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Lenders accused of charging veterans illegal fees


Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. were among 13 banks and mortgage lenders accused in a so-called whistleblower lawsuit of charging military veterans illegal fees to refinance home loans, Bloomberg reported. The banks charged fees barred under a U.S. Department of Veterans Affairs program and hid the charges to get government guarantees for the loans, according to the whistleblower complaint brought in 2006 by two mortgage brokers that was unsealed yesterday in federal court in Atlanta. Spokespersons for the three banks declined to comment on the lawsuit.

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