Investors Question BofA/CFC Plan To Pass Settlement Costs to Trusts
November 3, 2008
Securities industry lawyers are planning to organize investors to challenge a recent settlement between Countrywide Financial Corp. – now a unit of Bank of America – and 14 state attorneys general over alleged deceptive and misleading lending practices. In an Oct. 16 position paper, New York law firm Grais & Ellsworth said the agreement imposes the cost of the settlement ultimately on...