A New York state judge said that she alone, and not a jury, will decide if Bank of America (BAC) can go through with a $8.5 billion mortgage-backed securities settlement, finding that the process used doesn’t require a jury.
Judge Barbara R. Kapnick said that what the securities’ indenture trustee, Bank of New York Mellon Corp. (BK), is hoping trying to do — get judicial approval of the settlement and how it was reached with the institutional investors.
