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A Bank of America Merrill Lynch sign is seen on a building that houses its offices in Singapore May 17, 2012. CREDIT: REUTERS/TIM CHONG

Bank of America ordered to pay $1.27 billion for Countrywide fraud

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A federal judge on Wednesday ordered to pay $1.27 billion of damages after a federal jury found the second-largest U.S. bank liable for fraud over defective mortgages sold by its Countrywide unit.

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