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A man passes a Bank of America branch in New York.
A man passes a Bank of America branch in New York.
(EDUARDO MUNOZ/REUTERS)

Financial Times

BofA outlook gains visibility with MBIA settlement

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Bank of America and MBIA, the bond insurer, have finally buried the hatchet. The two had been locked in a complex legal battle, each with their own crisis-era grievances against the other. On Monday, it was all resolved with BofA agreeing to pay MBIA $1.7-billion (U.S.). Both will benefit.