A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently inducing it to insure risky mortgage-backed securities. New York State …
Bank of America Corp.’s Countrywide Financial unit agreed on Wednesday to pay a record $335 million to settle civil charges that it discriminated against minority homebuyers, a historic settlement for the Obama administration in the wake of the subprime mortgage …
Investors want to lift the “shroud of secrecy” over the proposed $8.5 billion settlement of Bank of America Corp.’s mortgage-backed securities liability in the coming weeks, a lawyer said last week. Dan Reilly, a Colorado lawyer representing American International Group …
A federal judge rejected American International Group Inc.’s request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp. back to a New York state court, where AIG believed the case belonged. U.S. District Judge Barbara Jones …
JPMorgan Chase & Co. and Bank of America Corp. were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks. The plaintiff Sealink Funding Ltd. said …
Investors objecting to Bank of America Corp.’s $8.5 billion settlement of claims over losses on mortgage-backed securities are seeking to send their dispute to federal court, potentially delaying a resolution of one of the beleaguered bank’s largest legal liabilities. According …
Warren Buffett will invest $5 billion in Bank of America Corp., stepping in to shore up the largest U.S. bank in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. Bank of America …
A New York state judge granted the request of dozens of investors including pension funds, insurers and several Federal Home Loan Banks to intervene in Bank of America Corp.’s proposed $8.5 billion settlement with investors who lost money on mortgage-backed …
Insurer American International Group (AIG) is suing Bank of America Corp. to recover more than $10 billion of losses from a “massive fraud” on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank. AIG is still …
Bank of America Corp.’s legal losses could cost as much as $2.3 billion above money already set aside to cover litigation, the largest U.S. bank by assets said in a securities filing. BofA raised the possible legal loss estimate by …
