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Bank of America Settlement Faces Growing Challenges

"The legal onslaught continues for Bank of America.  On Tuesday, several homeowners filed suit in Federal District Court in Manhattan, seeking to block a proposed $8.5 billion settlement between Bank of America and major mortgage investors, including BlackRock, Pimco and the Federal Reserve Bank of New York. The suit says the deal fails to address widespread servicing problems and would actually speed up foreclosures."

Read the full story at The New York Times

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