After meeting behind closed doors a few weeks ago, the Federal Reserve announced its latest monetary policy. Not surprisingly, Fed Chair Janet Yellen’s remarks included a statement on the future (or lack thereof) of the...more
In what is being reported as the largest settlement ever between the U.S. and a single business entity, Attorney General Eric Holder and Associate Attorney General Tony West announced Thursday that Bank of America Corp....more
Late last month, a New York state judge denied AIG’s request to delay approval of Bank of America’s $8.5 billion settlement with private investors in connection with certain mortgage-backed securities that had soured. Bank of...more
Adding to JPMorgan Chase’s widely publicized recent legal woes, shareholder Bradley P. Miller filed a derivative suit against the bank and its directors in California federal court on January 23, 2014, as a result of the $20...more
2/10/2014
/ Banking Sector ,
Bernie Madoff ,
Derivative Suit ,
Federal Reserve ,
GSE ,
JPMorgan Chase ,
London Whale ,
Mortgage-Backed Securities ,
Risk Assessment ,
Securities Fraud ,
Subprime Mortgages ,
Unjust Enrichment
Bank of America’s $8.5 billion settlement in 2011 to resolve claims over Countrywide’s mortgage abuses may be in jeopardy. Last week, a group of investors, the Triaxx funds and the Federal Home Loan Banks of Boston,...more