News & Analysis as of

Credit Crunch Digest - December 2013

This issue of the Credit Crunch Digest focuses on recent developments in Libor-related cases; Credit Suisse’s challenge to the New York Attorney General’s mortgage-backed securities case; Bank of America’s settlement in a...more

Credit Crunch Digest -- September 2013

This issue of the Credit Crunch Digest focuses on JPMorgan’s $920 million “London Whale” settlement; interdealer broker fines for Libor manipulation; the European Union’s proposed regulations for Libor oversight; cost...more

Federal Judge Dismisses FDIC’s Securities Fraud Claims Against Countrywide

On April 8, U.S. District Judge Mariana R. Pfaelzer of the Central District of California dismissed the FDIC’s suit against Countrywide. FDIC, as the receiver for Colonial Bank, filed suit against Countrywide and Bank of...more

Orrick's Financial Industry Week in Review - April 15, 2013

Fed Proposal on Annual Assessments - On April 15, the Fed requested comment on a proposed rule to establish an annual assessment for bank holding companies and savings and loan companies with $50 billion or greater in total...more

Orrick's Financial Industry Week in Review - January 14, 2013

In This Issue: - Financial Industry Developments •CFPB Rules on Ability-to-Repay and Qualified Mortgages •Independent Foreclosure Review Settlement •CFPB Final Rules on High-Cost Mortgages •Rating Agency...more

Federal Court Narrows FDIC Lawsuit Against Countrywide

On January 3, Judge Mariana R. Pfaelzer of the Central District of California ruled on motions to dismiss filed by defendants Countrywide, Bank of America, and UBS in an action brought against them by the Federal Deposit...more

FDIC’s Countrywide RMBS Action Transferred to MDL in Central District of California

On August 3, Judge John G. Heyburn II of the Judicial Panel on Multi-District Litigation denied plaintiff Federal Deposit Insurance Corporation’s motion to vacate the court’s order transferring the FDIC’s action to the...more

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