BofA Says $25B Mortgage Deal Bars NY AG's Suit

Law360, New York (May 10, 2013, 4:47 PM EDT) -- Bank of America Corp. on Tuesday pushed back against New York Attorney General Eric Schneiderman’s plan to sue it and Wells Fargo & Co. for noncompliance with last year's $25 billion mortgage settlement, saying it first must be given time to cure any alleged violations.

In a letter to Schneiderman, BofA attorneys from Wachtell Lipton Rosen & Katz said his intent to sue the bank for violating the settlement’s mortgage servicing standards is premature as the settlement states that a suit can only be brought to...
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