On June 8, 2018, monoline insurer Ambac Assurance Corporation (“Ambac“) filed a complaint in the United States District Court for the Southern District of New York against U.S. Bank National Association (“U.S. Bank“), trustee...more
On May 26, 2017, defendant-trustee Wells Fargo Bank N.A. (“Wells Fargo“) filed four third-party complaints against BlackRock Advisors, LLC, Pacific Investment Management Company, LLC, Teachers Advisors, LLC, TIAA-CREF...more
On September 8, 2015, the Southern District of New York dismissed, for lack of jurisdiction, a large portion of claims from a derivative class action alleging that Citibank NA, as trustee of 27 trusts, had breached its...more
On August 19, 2015, the Federal Deposit Insurance Corp., acting as receiver for Guaranty Bank, filed suit against Bank of New York Mellon Corp. in New York federal court, alleging that BNY breached its duties as trustee of 12...more
8/24/2015
/ Bank of New York (BNY) Mellon ,
Breach of Duty ,
Consumer Lenders ,
Countrywide ,
FDIC ,
Financial Institutions ,
Financial Markets ,
Loans ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
RMBS ,
Trust Indenture Act ,
Trustees
On June 1, 2015, Judge Shira Scheindlin of the United States District Court for the Southern District of New York issued a Decision and Order granting in part and denying in part HSBC Bank USA, National Association’s (“HSBC”)...more