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Seven large financial firms are in talks aimed at reaching a truce with bond insurer MBIA Inc. that could end a legal battle over billions of dollars in losses triggered by the financial crisis.
After more than two years of stalemate, Bank of America Corp., Morgan Stanley and five other banks and securities firms are negotiating settlements with the Armonk, N.Y., company. Resolving the disputes could involve some payments from the insurer to certain banks, according to people familiar with the matter.
The talks are aimed at resolving a complex web of allegations.
In the years leading up to the
source: online.wsj.com
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