Belgian Bank Sues JPMorgan Over $2B In RMBS

Law360, New York (January 20, 2012, 4:13 PM EST) -- Belgian bank Dexia SA on Thursday sued JPMorgan Chase & Co. and others in New York state court for alleged fraud in the formation and sale of more than $1.7 billion in residential mortgage-backed securities.

The latest in a slew of lawsuits to recoup money from MBS issuers, Dexia contends JPMorgan, Bears Stearns & Co. Inc. and Washington Mutual Bank affiliates intentionally securitized defective mortgages and then misrepresented the quality of those mortgages in offering materials, which also included misleading credit ratings for the securities....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.