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Bank of America Gets Kicked in the Trousers

By John Maxfield - Apr 8, 2013 at 3:27PM

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An appeals court ruling last week gives Bank of America reason to be worried.

It's safe to say that Bank of America (BAC -0.61%) has seen better days. Besides the unfortunate performance of its shares last week, the nation's second largest bank by assets recently received an unwelcome kick in the trousers by the New York court of appeals. The ruling is part of a long-simmering dispute between the bank and the mortgage-bond insurer MBIA (MBI -0.38%). In the video below, Motley Fool contributor John Maxfield discusses the case and what it means for Bank of America's shareholders.

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Stocks Mentioned

Bank of America Corporation Stock Quote
Bank of America Corporation
BAC
$35.65 (-0.61%) $0.22
MBIA Inc. Stock Quote
MBIA Inc.
MBI
$13.25 (-0.38%) $0.05

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