Bank of America to pay $1.7 bn to MBIA to settle dispute | Bangkok Post: news

News > World

Bank of America to pay $1.7 bn to MBIA to settle dispute

- +

Bank of America and insurer MBIA on Monday announced a $1.7 billion settlement deal resolving their dispute over mortgage securities that soured as the housing market collapsed. 

Bank of America and insurer MBIA announced a $1.7 billion settlement deal resolving their dispute over mortgage securities that soured as the housing market collapsed.

Bank of America will pay $1.6 billion in cash to MBIA and $137 million in the outstanding MBIA notes it held.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments