Investors request “shroud of secrecy” lifted in BofA’s $8.5 B settlement

Despite transparency request, some investors still object to the proposed settlement

Another page was written in the epic drama surrounding Bank of America Corp. (BofA) and its seemingly endless legal trouble this year.

A lawyer representing American International Group Inc. (AIG) told U.S. District Court Judge William Pauley in New York Wednesday that investors want the “shroud of secrecy” lifted over the proposed $8.5 billion settlement of BofA’s mortgage-backed securities liability stemming from bad loans sold by Countrywide Financial Corp., which BofA bought in 2008.

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