NEW YORK (Source: The Wall Street Journal)--The Knights of Columbus, an organization tied to the Catholic Church, on Tuesday raised the stakes in its fight against Bank of New York Mellon Corp. (BK) for failures to carry out duties as a bond trustee and to detect violations by the servicer.The Knights of Columbus, which hold $17 billion in assets, claim that Bank of New York violated terms of agreements on 18 residential mortgage-backed securities issued by Bank of America Corp.’s (BAC) Countrywide unit, including maintaining files on underlying loans and ensuring master servicer Countrywide was pursuing foreclosures without undue …

Source: The Wall Street Journal

AUGUST 16, 2011, 4:00 P.M. ET

To read more, click on this link