Countrywide Must Face MBIA Fraud Claim, Appeals Court Rules

Bank of America Corp. (BAC) and its Countrywide Financial Corp. unit must face a fraud claim brought by bond insurer MBIA Insurance Corp., an appeals court ruled. The New York court yesterday upheld an April 2010 trial- court denial of Countrywide’s motion to dismiss the claim against it in the 2008 suit. MBIA alleges that …