Ixe Banco Settles Contract Dispute With MBNA

Law360, New York (January 11, 2010, 3:22 PM EST) -- Ixe Banco SA has agreed to settle a contract dispute with MBNA America Bank NA and its parent company, Bank of America Corp., over a failed joint venture to market credit cards and loans in Mexico.

Judge Loretta A. Preska of the U.S. District Court for the Southern District of New York signed a stipulation of dismissal with prejudice on Thursday. The terms of the settlement were confidential, other than that each party will bear its own costs.

An attorney for Ixe Banco declined to comment,...
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