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BNP Paribas, Deutsche Bank sue Bank of America

Published: November 25, 2009 6:48 PM
By The Associated Press  

Quick ReadBNP Paribas, Deutsche Bank sue Bank of America over failure to repay $1.73B in notes

SAN FRANCISCO (AP) — Deutsche Bank AG and a BNP Paribas unit sued Bank of America NA on Wednesday over allegations the bank failed to pay back $1.73 billion in secured notes.

The two sued for breach of contract.

Deutsche Bank said Bank of America failed to secure $1.25 billion in cash and mortgage loans on its behalf. BNP Paribas said the bank was supposed to hold cash and mortgage loans...

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