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NY AG Attempts to Block BofA Settlement to Investors


The New York Attorney General has requested that a judge not grant the settlement between Bank of America and their investors for 8.5 Billion dollars.  The reason for this is because there is a third party involvement by The Bank of New York Mellon which committed fraud by not making sure that the securities followed the state laws, and that investors were not covered properly.  Bank of New York Mellon was the "trustee who was representing the investors". The bank knew that they were performing fraudulent acts by not looking out for what is best for their investors.  A spokesman for Bank of New York Mellon states that this information is untrue.