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Credit Ratings Residential Mortgage-Backed Securities

Robins Kaplan LLP

Your Daily Dose of Financial News

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Less than a day after the Journal reported that CBS and the Redstones are nearing a deal to resolve their many differences, we’ve learned that CBS chief Les Moonves—facing an investigation into alleged sexual harassment...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more

Burr & Forman

Moody’s Settles RMBS/CDO Ratings Claims with DOJ, States

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After markets closed on Friday the 13th, the U.S. Department of Justice (“DOJ”) announced an $864 million settlement regarding Moody’s credit ratings of residential mortgage-backed securities (“RMBS”) and collateralized debt...more

Orrick - Finance 20/20

Rating Agency Developments

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On September 23, DBRS published the methodologies it will use to rate and monitor U.S. Property Assessed Clean Energy securitization. On September 22, Moody’s published its updated rating methodology for consumer loan-backed...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

No Intervention for Class of Homeowners in Suit Against HSBC - On August 25, 2014, Judge Denise Cote of the U.S. District Court for the Southern District of New York denied a motion brought by a class of putative...more

Orrick - Finance 20/20

Securities Claim Against UBS Based on RMBS Credit Ratings Allegations Revived

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On July 22, Judge Denise Casper of the United States District Court for the District of Massachusetts permitted plaintiff Capital Ventures International to pursue Massachusetts Uniform Securities Act claims against UBS...more

Orrick, Herrington & Sutcliffe LLP

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

FHFA Statement on Freddie Mac Risk-Sharing Transaction - On July 24, the FHFA announced that Freddie Mac is nearing completion of its first risk-sharing transaction, a direct debt issuance, that will assist Freddie Mac...more

Orrick - Finance 20/20

Federal Court Denies S&P’s Motion to Dismiss $5 Billion RMBS Fraud Suit

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On July 16, Judge David O. Carter of the Federal District Court for the Central District of California denied Standard & Poor’s Financial Service LLC’s (S&P) motion to dismiss the U.S. government’s $5 billion fraud suit...more

Orrick - Finance 20/20

California Attorney General Brings Action Against Standard and Poor’s

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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, Herrington & Sutcliffe LLP

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

Orrick - Finance 20/20

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

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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

Orrick - Finance 20/20

DOJ Brings Civil Fraud Action Against S&P

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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

Orrick, Herrington & Sutcliffe LLP

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

Orrick - Finance 20/20

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

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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

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