The FDIC filed a petition with the courts late Monday contesting the $ 8.5 billion settlement proposal put forth by Bank of America in June, which is intended to cover claims from institutional investors related to mortgage bonds issued by Countrywide years before the subprime lender was acquired by BofA. The FDIC says it has been the receiver of several failed banks that held certificates issued by the trusts covered under the proposed settlement, and the agency is objecting to the proposal because it doesn’t have enough information on it.
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