Friday, May 27, 2016

HSBC plans $420M suit against Merrill Lynch, Bank of America for toxic Countrywide loans

HSBC Bank notified a New York state court this week that it plans to file a $420 million lawsuit against Merrill Lynch and Bank of America, claiming that both Merrill Lynch and Bank of America knew a series of Countrywide mortgage loans were toxic and allowed the loans to be securitized nonetheless. Here are all the details.

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