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NY pushes objection to BofA $8.5 billion mortgage pact

thenakedemperor Wrote: Apr 11, 2012 5:39 PM
BofA's Brian Moynihan: the master of financial greed and not admitting wrongdoing!

By Karen Freifeld

(Reuters) - Bank of America Corp's proposed $8.5 billion mortgage bond settlement received fresh opposition on Tuesday from New York's attorney general, who said the accord appears unfair to investors who may deserve to recover more.

Eric Schneiderman, the attorney general, filed papers on Tuesday asking a New York State Supreme Court justice for permission to intervene.

He had made the same request last August before the case moved to federal court. It returned to the state court in February.

The settlement announced last June arose from Charlotte, North Carolina-based Bank of America's 2008 purchase of Countrywide...

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