Bank of America and Merrill Lynch Settle RMBS Lawsuit with FDIC

Orrick - Finance 20/20
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On November 17, Bank of America and Merrill Lynch settled securities claims brought by the FDIC related to RMBS sold to United Western Bank. The FDIC, as the receiver for United Western Bank, alleged claims under the Securities Act of 1933 and the Colorado Securities Act against Bank of America, Merrill Lynch, Morgan Stanley, and RBS Securities related to $110 million in RMBS. The case against Morgan Stanley and RBS remains pending. Stipulation.

 

 

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© Orrick - Finance 20/20

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Orrick - Finance 20/20
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