US Bank Wants Ambac RMBS Suit To Yield To State Actions
By Jack Newsham ( September 19, 2017, 2:08 PM EDT) -- U.S. Bank NA has asked a New York federal court to stay or dismiss a lawsuit by insurer Ambac Assurance Corp. that claims U.S. Bank failed to prevent losses on billions of dollars' worth of residential mortgage-backed securities, saying there's no reason for the court to weigh in on a dispute that has been working its way through state courts for several years....
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