News & Analysis as of

Credit Crunch Digest - October 2014

This issue of the Credit Crunch Digest focuses on estimated Forex-related fines and exposure; requests by U.K. authorities for additional funding to investigate rate-rigging and Forex manipulation; a guilty plea in connection...more

Orrick's Financial Industry Week in Review - April 14, 2014

Agencies Apply Increased Leverage Ratio to Large U.S. Banks - On April 8, the Fed, FDIC and OCC adopted the final rule to increase the leverage ratio for the largest U.S. banks. The final rule applies to U.S. bank...more

Citi Settles Allstate’s $200M RMBS Suit

On May 28, Allstate Insurance Co. dismissed its lawsuit against Citigroup Inc. and several of its affiliates after reaching a settlement with defendants. The suit related to $200 million of RMBS certificates that Allstate...more

Citi Settles FHFA’s $3.5B RMBS Suit

On May 28, the FHFA, acting on behalf of Fannie Mae and Freddie Mac, dismissed its lawsuit against Citigroup Inc. and certain of its affiliates and employees after reaching a settlement with defendants. The lawsuit related to...more

Impac Settles RMBS Suit Brought by Citigroup for $3.1 Million

On January 24, Impac Funding Corp. settled a lawsuit brought by Citigroup Global Markets Inc. alleging violations of Sections 18 and 20 of the Securities Exchange Act and negligent misrepresentation based on alleged...more

Citigroup Settles RMBS Class Action Lawsuit for Nearly $25 Million

On August 27, lead plaintiffs City of Ann Arbor Employees’ Retirement System and Greater Kansas City Laborers Pension Fund submitted an unopposed motion seeking preliminary approval of a settlement of claims against certain...more

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