August 4, 2011 / 11:19 PM / 7 years ago

NY seeks to intervene in BoA $8.5 billion pact

NEW YORK (Reuters) - New York’s attorney general is seeking to intervene as an “adverse party” in Bank of America Corp’s $8.5 billion settlement over losses in mortgage-backed securities.

New York Attorney General Eric Schneiderman filed a motion late Thursday evening seeking to intervene in order to “protect the marketplace and the interests of New York investors, the vast majority of whom otherwise are not present before the Court in this proceeding.”

Reporting by Andrew Longstreth; Editing by Lisa Shumaker

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