Credit Ratings

New York Demands Credit Score Changes For Hurricane Sandy-Impacted Consumers

by BuckleySandler LLP on 5/6/2013

On April 25, New York Governor Andrew Cuomo announced that the New York Department of Financial Services (DFS) sent a letter to several consumer credit bureaus, demanding that the firms (i) ensure that credit scores are not...more

SEC Credit Ratings Roundtable

by Orrick - Structured Finance Group on 4/29/2013

On April 23, the SEC announced the agency for its Credit Ratings Roundtable which will be held on May 14. The roundtable will consist of three panels...more

Orrick's Financial Industry Week in Review - April 29, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/29/2013

In This Issue: Financial Industry Developments: CFPB Proposed Clarifications on Qualified Mortgage Rules; SEC Credit Ratings Roundtable; FDIC Proposed Guidance on Deposit Advance Products; Rating Agency Developments; RMBS...more

California Attorney General Brings Action Against Standard and Poor’s

by Orrick - Structured Finance Group on 2/20/2013

On February 5, the Attorney General of California, Kamala D. Harris, filed suit in Superior Court in California against Standard & Poor’s and its parent company, the McGraw Hill Company. The Complaint alleges violations of...more

Orrick's Financial Industry Week In Review - February 11, 2013

by Orrick, Herrington & Sutcliffe LLP on 2/14/2013

In This Issue: *RMBS Litigation - Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial - DOJ Brings Civil Fraud Action Against S&P - S&P Seeks Declaration That Credit Ratings Are Immune From...more

Dechert OnPoint Details Recent SEC Report on Credit Ratings for Structured Finance Products

by Ralph R. Mazzeo | Dechert LLP on 2/14/2013

While we’re on the topic of Dodd-Frank rules and regs that could have a significant impact on the securitization market, the SEC recently reported the findings of a study it conducted regarding assigned credit ratings for...more

S&P Seeks Declaration That Credit Ratings Are Immune From Liability

by Orrick - Structured Finance Group on 2/11/2013

On February 5, two Standard & Poor’s entities filed a declaratory judgment action in the Southern District of South Carolina seeking to bar the South Carolina Attorney General from suing S&P under South Carolina’s Unfair...more

DOJ Brings Civil Fraud Action Against S&P

by Orrick - Structured Finance Group on 2/11/2013

On February 4, the Department of Justice filed a complaint in the Central District of California against two Standard & Poor’s entities in connection with credit ratings S&P provided for certain RMBS and CDOs....more

Weekly Brief: DOJ Memo Details Justification For Killing US Citizens [Video]

by Bloomberg Law on 2/7/2013

Feb. 7 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia runs through the legal news for the week. A confidential memo leaked from the Department of Justice details the legal rationale for the extrajudicial killing of American...more

Securities and Exchange Commission Report to Congress on Assigned Credit Ratings for Structured Finance Products

by Linda Ann Bartosch, Patrick D. Dolan | Dechert LLP on 2/5/2013

Recently the Staff of the Division of Trading and Markets (the “Staff”) of the U.S. Securities and Exchange Commission (the “Commission”) published a report to Congress outlining the findings from the study the Commission was...more

Will The Debt Ceiling Standoff End Up In Court? [Video]

by Bloomberg Law on 1/17/2013

Jan. 17 (Bloomberg Law) -- Bob Rice, Managing Partner at Tangent Capital Partners and a former federal prosecutor, talks with Bloomberg Law's Lee Pacchia about the potential for the debt ceiling fight to end up in the court...more

Orrick's Financial Industry Week in Review - January 7, 2013

by Orrick, Herrington & Sutcliffe LLP on 1/14/2013

In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more

Second Circuit Affirms Dismissal of Class Action Against S&P Over MBS Ratings

by Orrick - Structured Finance Group on 1/10/2013

On December 20, 2012, the Second Circuit affirmed a decision by Judge Sidney H. Stein of the Southern District of New York dismissing a putative class action suit alleging that Standard & Poor’s Ratings Services intentionally...more

SEC Report on Assigned Credit Ratings

by Orrick - Structured Finance Group on 1/9/2013

On December 18, 2012, the SEC released a Report to Congress on Assigned Credit Ratings, as required by Section 939F of the Dodd-Frank Act, to analyze the feasibility of establishing an assignment system for NRSROs to rate...more

Dodd-Frank Implementation: Navigating the Road Ahead

by Jay G. Baris, Alexandra Steinberg Barrage, Leonard N. Chanin, Henry M. Fields, Rick Fischer, Oliver I. Ireland, Jeremy C. Jennings-Mares, David H. Kaufman, David M. Lynn, Jerry R. Marlatt, more +Barbara R. Mendelson, Thomas J. Noto, Obrea O. Poindexter, James Schwartz, Andrew M. Smith, James R. Tanenbaum | Morrison & Foerster LLP on 12/29/2012

Table of Contents: Introduction; Financial Stability Reform; Resolution Planning; Agencies and Agency Oversight Reform; Securitization Reform; Derivatives Regulation; Investor Protection Reform; Credit Rating Agency...more

SEC Releases Study On Credit Ratings

by Stephen M. Quinlivan | Leonard, Street and Deinard - Dodd-Frank and... on 12/24/2012

The SEC has released the study on credit ratings required by Section 939F of the Dodd-Frank Act. Section 939F provides that, after submission of the report to Congress containing the findings of the study, the SEC shall, by...more

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New York Demands Credit Score Changes For Hurricane Sandy-Impacted Consumers

SEC Credit Ratings Roundtable

Orrick's Financial Industry Week in Review - April 29, 2013

California Attorney General Brings Action Against Standard and Poor’s

Orrick's Financial Industry Week In Review - February 11, 2013

Dechert OnPoint Details Recent SEC Report on Credit Ratings for Structured Finance Products

S&P Seeks Declaration That Credit Ratings Are Immune From Liability

DOJ Brings Civil Fraud Action Against S&P

Weekly Brief: DOJ Memo Details Justification For Killing US Citizens [Video]

Securities and Exchange Commission Report to Congress on Assigned Credit Ratings for Structured Finance Products

Will The Debt Ceiling Standoff End Up In Court? [Video]

Orrick's Financial Industry Week in Review - January 7, 2013

Second Circuit Affirms Dismissal of Class Action Against S&P Over MBS Ratings

SEC Report on Assigned Credit Ratings

Dodd-Frank Implementation: Navigating the Road Ahead

SEC Releases Study On Credit Ratings

Weekly Brief: DOJ Memo Details Justification For Killing US Citizens [Video]

Will The Debt Ceiling Standoff End Up In Court? [Video]

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