October 22, 2014
Citigroup Global Markets Inc. has reached a settlement agreement with the FDIC in a Ninth Circuit appeal alleging a number of banks spurred on Colonial Bank's failure by selling it poor-quality mortgage-backed securities, and the bank insurer said Wednesday it expects Bank of America Corp. to exit the suit shortly as well.
April 09, 2013
A California federal judge on Tuesday tossed the Federal Deposit Insurance Corp.'s claims against Countrywide Securities Corp. and successor Bank of America Corp. in one of five suits seeking $741 million in damages for allegedly duping now-defunct Colonial Bank into buying doomed mortgage-backed securities.