Economy

Hacker group, Anonymous, releases Bank of America documents

A hacker organization on Monday released emails in which a former Bank of America Corp. employee asserts the company is hiding foreclosure information from regulators.

The posting by a member of a group known as Anonymous includes e-mails in which a Balboa Insurance employee raises questions about removing from the record documents that were sent out in error. The e-mails don't indicate the loans have foreclosure issues.

A Bank of America spokesman told the Observer that the former Balboa employee stole documents from the company. "We're confident he will not be able to substantiate his outlandish assertions," the spokesman said.

The Charlotte bank bought Balboa Insurance as part of its 2008 Countrywide Financial Corp. acquisition. Last month, the bank agreed to sell the unit to Australia's QBE Insurance Group. One of Balboa's products includes so-called lender-placed insurance used by financial institutions.

Over the weekend, an Anonymous member who uses the Twitter handle OperationLeakS disclosed plans to release the Balboa documents. The e-mails are posted on a site called bankofamericasuck.com. The site also includes exchanges between OperationLeakS and the anonymous Balboa employee.

Reda the complete story at charlotteobserver.com

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