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Financial Crisis

A sign outside a Bank of America branch in San Francisco. (Justin Sullivan/Getty Images)

US Judge Slaps B of A With $1.3B Fine For Mortgage Fraud; First Ever Such Ruling Against Bank

A federal judge imposed a $1.3 billion civil penalty against Bank of America for its role in selling risky mortgages to Fannie Mae and Freddie Mac. This is the first time a bank has been found liable under federal law for mortgage fraud leading up to the financial crisis

07/30/2014

Gov. Arnold Schwarzenegger (AP)

Schwarzenegger Proposes $9.9B In Cuts, Fund Shifts

Gov. Arnold Schwarzenegger was poised to call lawmakers into an emergency budget session, calling spending cuts “simply unavoidable.”

CONNECT WITH KCBS–12/06/2010