It turns out, talk of Bank of America's proposed settlement with a group of institutional investors that suffered steep financial losses investing in mortgage-backed security issued by mortgage loan provider Countrywide Financial Corp. may be a bit premature.
Some of those investors, including six of the nation’s 12 regional Federal Home Loan Banks, have raised objections to the settlement being negotiated in New York State Supreme Court between BofA, which took over the failed Countrywide in a government-arranged deal back in 2008, and Bank of New York Mellon, the trustee 22 of those Countrywide investors.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access