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Tuesday, February 4, 2014
New York judge approves Bank of America settlement over mortgage-backed securities
[JURIST] A New York state judge on Friday approved an $8.5 billion settlement between Bank of America (BOA) [corporate website] and almost two dozen mortgage securities investors, holding that the 2011 agreement was reached in good faith. In a 54-page ruling, New York State Supreme Court Justice Barbara Kapnick found that BNY Mellon, a party in the matter, did not abuse its discretion [NYT report] when entering into the settlement agreement. American International Group (AIG), one of the country's largest...
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