BofA Put Toxic Debt in Bond as Traders Cut ‘Fat Kid,’ U.S. Says

BofA Put Toxic Debt in Bond as Traders Cut ‘Fat Kid,’ U.S. Says

Davis Turner/Bloomberg

Bank of America Corp. decided not to conduct loan-level due diligence on the mortgages used as collateral in the securitization, in part to save about $15,000 in expenses, according to the complaint.