Wells Fargo Ends Fight With MBIA Over Loan Suit Costs

Law360, New York (October 13, 2010, 12:12 PM EDT) -- Wells Fargo Bank NA has settled a lawsuit alleging MBIA Insurance Corp. failed to pay the bank for certain expenses related to litigation over pools of student loans that were gathered into trusts for the benefit of investors.

Judge Patrick J. Schiltz of the U.S. District Court for the District of Minnesota signed an order Tuesday granting Wells Fargo's request to dismiss the case. Details of the settlement were not included in court papers.

The basis for Wells Fargo's suit was an indemnity agreement between the...
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