US Bank Can't Press Pause On Trimmed Ambac RMBS Suit

By Dean Seal (June 29, 2018, 10:22 PM EDT) -- A New York federal court has denied U.S. Bank NA's bid to pause a lawsuit by insurer Ambac Assurance Corp. alleging that the bank failed to prevent losses on billions of dollars' worth of residential mortgage-backed securities, saying Friday that the federal action should be trimmed but is not parallel with two state proceedings....

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