Banking Group Of The Year: Mayer Brown

Law360, New York (January 14, 2015, 2:20 PM EST) -- In a critical year for banks that continue to face fallout from the 2006 housing crash, Mayer Brown LLP was at the forefront of a new type of residential mortgage-backed securities litigation when it led trustee Bank of New York Mellon Corp. to an $8.5 billion payout, placing the firm’s banking practice on Law30’s Practice Groups of the Year.

A federal judge approved early last year Bank of America Corp.’s 2011 agreement to shell out billions of dollars to unhappy holders of busted Countrywide Financial Corp. securities held in more than 500 trusts overseen by BNY Mellon. That settlement, which is...

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