Judge fines Bank of America $45M

A California bankruptcy judge issued a $45 million fine against Bank of America.

Judge Christopher Klein called the company's treatment of California couple Erik and Renee Sundquist "brazen" and "heartless."

The judge said the bank's mortgage modification process and mistaken foreclosure on the couple's home left them in "a state of battle-fatigued demoralization."

The fine money is earmarked mostly for law schools and consumer advocacy organizations.

Read more from Dow Jones Newswires.

[[In-content Ad]]