BofA Tells Court Ambac Cannot Prove $2.7 Bln Mortgage Case

Reuters, Sept. 7, 2022–Jody Godoy
Bond insurer Ambac Financial Group Inc cannot prove its $2.7 billion case against Bank of America over troubled mortgage-backed securities on evidence that BofA was a “bad actor” before the 2008 financial crisis, an attorney for the bank said on Wednesday in New York state court.