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Lending / The Ticker

Billionaire banker Andy Beal goes after big banks on bad loans

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Now Andy Beal has found another seemingly impossible mountain to climb: getting big banks like Bank of AmericaCitigroup, Goldman Sachs and JPMorgan Chase & Co., to repurchase potentially faulty loans that were sold during the housing boom. According to Katy Burne at The Wall Street Journal, Beal is working to bring bondholders together  to investigate potential misrepresentations and contract breaches by the banks that sold residential mortgage-backed securities.

Source: Forbes
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