A U.S. appeals court ruled that a proposed $8.5 billion settlement by Bank of America Corp. with investors in mortgage-backed securities should be reviewed in New York state court, not feder... Read more
As a result of a ruling by a New York state court judge, it will be much easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide... Read more
Bank of America Corp. has reached a settlement with former Countrywide Financial Corp. institutional investors who elected not to join a $624 million class-action case that won court approva... Read more
A lawsuit was filed last month against Bank of America Corp. and its Countrywide Financial unit alleging fraud in the sale of residential mortgage debt to a New York mutual life insurance co... Read more
We have written in prior issues about the large number of lawsuits that have been filed against Bank of America Corp. and it doesn’t appear its problems are over. Currently, there is much mo... Read more
The Federal Trade Commission and two Countrywide mortgage servicing companies have reached a settlement to resolve FTC charges. The two companies have agreed to pay $108 million to settle ch... Read more
Insurer American International Group (AIG) has sued Bank of America Corp. in a New York state court, attempting to recover more than $10 billion of losses from a “massive fraud” on mortgage... Read more
Countrywide Financial Corp. co-founder Angelo Mozilo has agreed to a $67.5 million settlement to avoid going to trial on civil fraud and insider trading charges. He had been accused of profi... Read more
Bank of America will pay $108 million to settle federal charges that Countrywide Financial Corp., which it acquired nearly two years ago, collected outsized fees from borrowers facing forecl... Read more
Countrywide Financial Corp, the mortgage lender acquired by Bank of America Corp., has agreed to a $624 million settlement of a lawsuit accusing it of misleading investors about its lending... Read more
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