Groups Back BofA In AIG's $10B RMBS Appeal In 2nd Circ.

Law360, New York (September 13, 2012, 7:24 PM EDT) -- Several banking groups accused American International Group Inc. on Wednesday of trying to rewrite the Edge Act, and urged the Second Circuit to reject the company's bid to return its $10 billion mortgage-backed-securities suit against Bank of America Corp. to state court.

In a joint amicus brief, the Securities Industry and Financial Markets Association, the California Bankers Association and the New York Bankers Association argued U.S. Judge Barbara S. Jones was correct to keep the suit in federal court under the Edge Act, which grants federal...
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