The list of banks suing MBIA just got smaller. Wells Fargo Bank, formerly Wachovia Bank, pulled out of three lawsuits against the insurer that challenged the New York State Insurance Department’s approval of the restructuring of MBIA Insurance Corp. into two entities.

The restructuring divided MBIA into MBIA Insurance Corp. that held policies many saw as higher in risk, such as MBS and an entity that insures municipal bond policies, National Public Finance Guarantee Corp.

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