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The article reports that a probe is being conducted by the U.S. Securities and Exchange Commission and the special inspector general for the Troubled Asset Relief Program (TARP) to find out whether many Wall Street banks cheated clients in the years following the financial crisis by deliberately mispricing mortgage-backed securities.

The article reports on the predicament of financial institution Bank of America Corp., which is facing legal actions from U.S. government regulators over its activities during the financial crisis. It states that the bank has disclosed that the Justice Department intends to sue them for civil fraud over mortgage-backed securities that it has issued before the crisis. It notes that the bank is being investigated by the Securities and Exchange Commission and New York Attorney General's office.