Grandma Occupy Has Million Dollar Line of Credit From… Bank of America?
Gee, wasn’t Bank of America one of the evil banks protested by the Occupy Wall Street movement, for which Elizabeth Warren takes intellectual credit?
Naturally, she failed to disclose this.
Alex Pappas of the Daily Caller…
Report: Elizabeth Warren Did Not Disclose $1.3 Million Credit Line From Bank Of America
Massachusetts Sen. Elizabeth Warren, the populist Democrat and foe of big banks, has not listed a $1.3 million credit line against her home with Bank of America on annual financial disclosure documents because of a loophole in federal law, according to a new report.
The Boston Herald reported Wednesday that Warren, who is required to disclose financial assets and liabilities, avoided listing it in 2014 because it’s a line of credit — not a mortgage — and the Democrat doesn’t actually owe enough money yet.
Here’s how the Democrat’s office explained the situation to the Boston Herald: “An aide for Warren said the amount represents a home equity line of credit, not a mortgage. According to the aide, a line of credit does not trigger reporting requirements if the borrower has not borrowed on it, or if the amount owed is less than $10,000. Warren’s account had a zero balance, the aide said.”
I don’t even care about this, but the left does and they should have to live by their own rules.