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Hacker group releases Bank of America documents

March 14, 2011

Charlotte, N.C. — A hacker organization on Monday released e-mails 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 an employee of Balboa Insurance Group in Irvine 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 said 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 what's known as lender-placed insurance used by financial institutions.

Rothacker writes for the Charlotte Observer (Charlotte, N.C.)/McClatchy.

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