BofA Mortgage-Bond Deal Opposed by Delaware Attorney General

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Bank of America's $8.5 billion settlement with mortgage-bond investors drew more state opposition, as Delaware joined New York in challenging the agreement.

Delaware Attorney General Beau Biden said yesterday he opposes the agreement and asked to intervene in the case to protect investors and preserve the state’s ability to pursue legal claims.

“I am intervening to enforce our laws and to protect Delaware investors who may have been harmed by these toxic securities,” Biden said in a statement. “Intervening in this settlement puts us in a position to ensure that the banks are playing by the rules.”

http://www.bloomberg.com/news/2011-08-09/delaware-objects-to-bank-of-america-mortgage-bond-settlement.html

[mbob731325]

1. interesting