Filed Under:Markets, E&S/Specialty

Judge: Bank of America CEO Moynihan Must Testify in MBIA Lawsuit

NEW YORK, April 12 - A New York judge has ruled that Bank of America CEO Brian Moynihan must testify in a lawsuit brought by bond insurer MBIA Inc. which claims the bank fraudulently induced it to insure risky mortgage-backed securities.

The judge said Moynihan could provide relevant testimony in the case due to his position as CEO, former president of investment banking and the fact that he oversaw the process of integrating Countrywide into Bank of America.

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