Direct from MarketWatch:
WASHINGTON (MarketWatch) — Bank of America Corp. and Morgan Stanley were fined $22 million Thursday to resolve allegations that the banks wrongfully foreclosed on almost 200 active-duty military-service members without first obtaining court orders.
“The men and women who serve our nation in the armed forces deserve, at the very least, to know that they will not have their homes taken from them wrongfully while they are bravely putting their lives on the line on behalf of their country,” Justice Department Assistant Attorney General Thomas Perez told reporters. “They [military personnel] have our backs and they need to know that we have theirs.”
According to the Justice Department, the victims included soldiers who “served honorably” in U.S. military actions in Iraq and Afghanistan.
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B. of A., Morgan Stanley settle foreclosure suit – MarketWatch