Bank of America faces more lawsuits as Texas sues Merscorp

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Bank of America (BoA) faces a wave of lawsuits after Dallas County district attorney Craig Watkins followed through on his promise to sue Merscorp and its shareholders – among them BoA – over claims its mortgage-tracking system violates Texas law.

The suit, filed on September 20, alleges Merscorp Mortgage Electronic Registration Systems (Mers) has cheated Dallas County out of an estimated $58 million in uncollected filing fees since 1997.

The case has serious implications, Watkins says – if

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