Monday, June 10, 2013

BofA could still put Countrywide into bankruptcy, executive says ...

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By Karen Freifeld NEW YORK (Reuters) - Bank of America Corp could put its Countrywide Financial unit into bankruptcy if it fails to win court approval for an $8.5 billion settlement with mortgage investors, a bank executive said on Monday. Chief Risk Officer Terrence Laughlin was testifying at a hearing in New York state court on whether to approve the deal, which would settle claims by investors who said Countrywide misrepresented the mortgages underlying bonds they bought. ...

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Source: http://www.financeroom.net/?p=109788

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