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Tag Archives: Prudential Insurance

Prudential Settles Lawsuits with Bank of America over Mortgage-Backed Securities

New Jersey federal court documents filed earlier this week revealed that Prudential Insurance Co. has moved to settle its ongoing lawsuits with Bank of America NA, Merrill Lynch & Co. Inc., First Franklin Financial Group, and a number of lenders in the mortgage industry. The suits, which were first filed in March 2013, alleged Bank of America and others knowingly sold Prudential $2.1 billion in low-quality mortgage-backed securities—and made false statements about them.

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