Ally Financial Sued by DZ Bank on Mortgage-Backed Securities
Ally Financial Inc. and Bank of America Corp. were sued by DZ Bank AG over the sale of $289.8 million of residential mortgage-backed securities. The defendants were “actively involved” in all aspects of the securitization of the products, acting as underwriters, broker-dealers and guarantors, DZ, the central bank for German cooperative banks, said in a complaint filed yesterday in New York State Supreme Court.
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