News & Analysis as of

Credit Crunch Digest -- October 2013

This issue of the Credit Crunch Digest focuses on the indictment of former ICAP employees for rate fixing of the yen Libor; a new lawsuit filed against global banks for their involvement in Libor manipulation schemes; a...more

New York AG Announces Mortgage Servicing Enforcement Actions

On October 2, New York Attorney General Eric Schneiderman (NY AG) announced actions to address alleged failures by two servicers to comply with certain of the 304 servicing standards established by the National Mortgage...more

Senator Warren Presses DOJ On National Mortgage Servicing Settlement FHA-Related Releases

On August 21, Senator Elizabeth Warren (D-MA) sent a letter to Attorney General Eric Holder raising concerns about the provisions of the National Mortgage Settlement that relate to the government’s release of potential...more

Orrick's Financial Industry Week in Review - August 26, 2013

European Banking Authority Publishes Responses to Consultation Paper on the Definition of Material Risk Takers for Remuneration Purposes - The European Banking Authority (EBA) published a list of responses received to...more

Democratic Lawmakers Seek Information Regarding Independent Foreclosure Review Settlements

On January 31, Senator Elizabeth Warren (D-MA) and Representative Elijah Cummings (D-MD), House Oversight Committee Ranking Member, sent a letter to the Federal Reserve Board and the OCC seeking documents and information...more

State AGs Announce Multistate Robo-Signing Settlement

On January 31, the state attorneys general (AGs) for 45 states obtained an agreement from a mortgage servicing and foreclosure vendor, and its former subsidiary, to resolve allegations that the company “robo-signed”...more

Florida Gets $8.6 Million in New $120 Million National Robo-Signing Settlement with Lender Processing Services

This morning, Florida's Attorney General Pam Bondi announced that Florida - along with another 45 state Attorneys General have made a bargain with Lender Processing Services, Inc. (LPS) which ends the investigations in...more

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