News & Analysis as of

Department of Justice (DOJ) Mortgage-Backed Securities

Sheppard Mullin Richter & Hampton LLP

“Nanny” Government Rebuffed in Prosecution of Former Barclays Trader

Once again, the Department of Justice’s (DOJ) efforts to hold a trader accountable for misrepresentations made during negotiations met with stiff resistance from the courts....more

Dechert LLP

Securitizing Marijuana Dispensary Properties in the Sessions Era

Dechert LLP on

In 2013, the Obama administration issued the Cole Memorandum, which called a truce between federal prosecutors and marijuana businesses operating legitimately under state law. After regime change in Washington, however, it...more

Dechert LLP

BNA INSIGHTS: Enforcement Actions Decline But Fines Hit Historic Highs in 2014

Dechert LLP on

During 2014, the number of enforcement actions brought by federal banking agencies1 continued a downward trend that began in 2011. Federal banking agencies issued 661 formal enforcement actions, representing more than a 55...more

Thomas Fox - Compliance Evangelist

As American as Duck Soup, the Marx Brothers and Stepping In It

I am at the end of my week of Marx Brothers themed posts. As you can tell, I am a huge fan and several of you have asked which is my favorite film. Before answering I must confess that I much prefer their Paramount films to...more

Dechert LLP

CrunchedCredit.com’s 5th Annual Golden Turkey Awards

Dechert LLP on

This is our fifth annual Golden Turkey Awards at CrunchedCredit. It just gets easier and easier. There are simply so many worthy contenders for an award this year. You know, we don’t stop and take a moment often enough to...more

Burr & Forman

Shadow Regulation: A Call For Judicial Oversight To DPA’s Or NPA’s

Burr & Forman on

On August 21, 2014, the United States Department of Justice announced a record 16.65 billion dollar agreement to resolve civil claims alleged against Bank of America for improperly concealing the risks of mortgage-related...more

Bilzin Sumberg

Bank of America’s $16.65 Billion Settlement

Bilzin Sumberg on

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

Bilzin Sumberg

Citigroup Settles with DOJ for $7 Billion

Bilzin Sumberg on

Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster settlement came days before...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - February 18, 2014

CFTC and EC Statement on Regulatory Framework - On February 12, the CFTC and the European Commission announced jointly that the two agencies have made significant progress in their collaboration on the regulatory...more

Bilzin Sumberg

JPMorgan Chase Agrees to $13 Billion Settlement with the U.S. Justice Department for Knowingly Selling Toxic Mortgage-Backed...

Bilzin Sumberg on

On Tuesday, the United States Justice Department announced that it finalized a settlement agreement with JPMorgan Chase for $13 billion. This settlement will resolve a multitude of state and federal investigations into...more

Thomas Fox - Compliance Evangelist

Are DPAs Morally Suspect?

You know it is going to be a bad day when you are excoriated in public by a sitting federal district judge. It is even worse when the comments of that federal judge make it into one of the most prominent international...more

Bilzin Sumberg

DOJ and SEC File Suits Against Bank of America

Bilzin Sumberg on

Stop me if you have heard something like this before. The Department of Justice announced a civil lawsuit on Tuesday alleging that Bank of America defrauded buyers of mortgage-backed securities by lying about the quality of...more

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