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Bank of America cannot be held liable to Allstate Insurance Company over residential mortgage-backed securities purchased by Allstate from Countrywide Financial Corporation.

Bank of America cannot be held liable to Allstate Insurance Company over residential mortgage-backed securities purchased by Allstate from Countrywide Financial Corporation.

A federal judge on Tuesday rejected Bank of America Corp's request to disqualify the law firm representing insurer American International Group Inc in its $10 billion mortgage fraud lawsuit against the bank over an alleged conflict of interest by one of the firm's partners.

Bank of America Corp urged a judge to disqualify the law firm representing insurer American International Group Inc in its $10 billion mortgage fraud lawsuit against the bank, alleging a conflict of interest by one of the firm's partners.

Insurer AIG wants more than $10 billion from Bank of America, saying the bank cheated it by selling it overvalued mortgage-backed securities.

MBIA Inc. has decided not to pursue a lawsuit against Bank of America Corp.'s Merrill Lynch unit.

QBE Insurance Group Ltd., of Australia, continued its buying spree in the U.S. Thursday by acquiring most of the insurance portfolio of Balboa Insurance Group from Bank of America.

Allstate Insurance Co. filed a federal lawsuit against Countrywide Financial Corp. late last month, seeking damages related to its purchases of more than $700 million in mortgage-backed securities from the company.