Businessweek-

The American Securitization Forum, the leading trade association for the securitization industry, fell into turmoil last week when most of the board resigned in a dispute with the group’s executive director over governance and bonuses, according to six people familiar with the matter.

The exodus puts the future of the trade group in question, said the people, who spoke on condition of anonymity because the dispute isn’t public. Members that quit include Bank of America Corp (BAC)., JPMorgan Chase & Co. (JPM), Deutsche Bank AG, Citigroup Inc. (C) and law firm Cadwalader, Wickersham & Taft LLP, the people said.

[BUSINESSWEEK]

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