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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
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BofA $8.5Bn Deal - Favorable Court Decision
February 27, 2012
[ by Melanie Gretchen ]
Bank of America's proposed $8.5 billion settlement with investors in mortgage-backed securities (MBSs) will go back to New York state court for review. On Monday, the 2nd U.S. Circuit Court of Appeals ruled in favor of Bank of America, which seeks approval to settle claims by investors in 530 mortgage securitization trusts with $174 billion of unpaid principal.
The ruling reverses an October decision by U.S. District Judge William Pauley, who took the case from state court.
For more details, go to [Reuters, 2/27/12].
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