<html><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; "><div><blockquote type="cite"><div class="gmail_quote"><br><div><div marginwidth="0" marginheight="0" bgcolor="#ffffff"> </div> <table height="100%" cellspacing="0" cellpadding="0" width="100%" bgcolor="#fff1e0" border="0"> <tbody> <tr> <td valign="top" align="middle"> <table cellspacing="0" cellpadding="0" width="100%" align="center" bgcolor="#ffffff" border="0"> <tbody> <tr> <td valign="top" align="middle"> <table cellspacing="0" cellpadding="0" width="700" align="center" border="0" style="position: static; z-index: auto; "> <tbody> <tr> <td valign="top" align="middle"><font style="FONT-SIZE:10px;LINE-HEIGHT:14px" face="Arial, Verdana, Helvetica, sans-serif" color="#777777" size="1"><br> If this email is not displayed correctly, please click on the following link or open your browser and <br> paste the link into the address field: <a 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border="0"> <tbody> <tr> <td valign="top" align="left"></td> </tr><tr> <td valign="center" align="right"><font style="FONT-SIZE:18px;LINE-HEIGHT:20px" face="Arial, Verdana, Helvetica, sans-serif" color="#74736c" size="3">Breaking news<br> </font><font style="FONT-SIZE:12px;LINE-HEIGHT:16px" face="Arial, Verdana, Helvetica, sans-serif" color="#74736c">Wednesday October 24 2012</font> </td></tr></tbody></table></td></tr></tbody></table> <table cellspacing="0" cellpadding="0" width="700" align="center" border="0"> <tbody> <tr> <td valign="top" align="left" height="8"><img style="DISPLAY:block" height="8" alt="" src="http://markets.ft.com/ft/resources/image/alert_redline.gif" width="700" border="0"></td></tr></tbody></table> <table cellspacing="0" cellpadding="0" width="700" align="center" border="0"> <tbody> <tr> <td valign="top" align="left" width="400"><table cellspacing="0" cellpadding="0" width="380" border="0"> <tbody><tr> <td valign="top" align="left"><font style="FONT-SIZE:12px;LINE-HEIGHT:16px" face="Arial, Helvetica, sans-serif" color="#000000"><br> <strong>Breaking News<br> </strong></font> </td></tr> <tr> <td valign="top" align="left"></td></tr></tbody></table> <table cellspacing="0" cellpadding="0" width="380" border="0"> <tbody><tr> <td valign="top" align="left"><a style="TEXT-DECORATION:none" href="http://link.ft.com/r/M2ZOXX/OFSDSJ/IY3VMR/30RS2Y/4VA76Y/ZH/h?a1=2012&a2=10&a3=24" target="_blank"><font style="FONT-SIZE:18px;LINE-HEIGHT:20px" face="Georgia, Times New Roman, Times, serif" color="#000101" size="3">US sues Bank of America for $1bn over loans</font></a></td> </tr> <tr> <td style="PADDING-TOP:4px" valign="top" align="left"><font style="FONT-SIZE:14px;LINE-HEIGHT:18px" face="Arial, Helvetica, sans-serif" color="#74736c"> The US Department of Justice sued Bank of America for more than $1bn on Wednesday, alleging the bank committed civil fraud by selling defective home loans to US government-backed mortgage companies.<br> The lawsuit said that Countrywide, the California-based mortgage originator that BofA bought in 2008, implemented a process called the “Hustle” to deal with loans at high speed without checking their quality. <br> Thousands of loans were then sold to Fannie Mae and Freddie Mac, which guarantee most US mortgages, and later defaulted, the Justice Department’s lawsuit claims.<br> <br> <a style="TEXT-DECORATION:none" href="http://link.ft.com/r/M2ZOXX/OFSDSJ/IY3VMR/30RS2Y/4VA76Y/ZH/h?a1=2012&a2=10&a3=24" target="_blank"> <font style="FONT-SIZE:10px;LINE-HEIGHT:16px" face="Arial, Helvetica, sans-serif" color="#4781aa" size="1">http://link.ft.com/r/M2ZOXX/OFSDSJ/IY3VMR/30RS2Y/4VA76Y/ZH/h?a1=2012&a2=10&a3=24</font></a> <br> </font></td></tr></tbody></table> </td> <td valign="top" align="left" width="300"> <table cellspacing="0" cellpadding="0" width="300" border="0"> <tbody> <tr> <td valign="top" align="left" height="15"></td></tr></tbody></table> <table cellspacing="0" cellpadding="0" 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