DOJ Probe Over RMBS Snared 16 Financial Cos., Clayton Says

Law360, New York (September 25, 2013, 2:39 PM EDT) -- The U.S. Department of Justice is probing 16 financial institutions as part of its investigation of the underwriting and bundling of residential mortgage-backed securities that caused the subprime loan-fueled financial crisis in 2007, due diligence giant Clayton Holdings LLC said Tuesday.

In a memorandum filed in Connecticut federal court, Clayton railed against a wide-ranging subpoena from the DOJ in July as well as a subsequent motion to compel in August, arguing that the trove of data the government is seeking from Clayton, including all its emails...
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