Banking Archive » March, 2012

Banking - March, 2012

345 articles

• BNY Seeks To Duck Suit Over $1B Lyondell-Basell Losses
• BofA Units Misled Buyers Over $980M RMBS, Suits Say
• Reserve Pins Hopes For SEC Defeat On Lehman Chaos
• Consumer Wants High Court Review Of JPMorgan FCRA Row
• German Bank Asks 2nd Circ. To Revive Goldman Fraud Suit
• Perkins Coie Draws In 4 Corporate Trust Pros From Pryor
• MasterCard, Visa Warn Card Users After Data Breach
• SEC Told To Seek Wells Fargo MBS Docs Outside Court
• M&T Bank Unit Escapes Fraud Action Over Loan Claims
• Locke Lord Snags 2 More High-Profile Partners For London
• Applying Past Lessons To Present, Future FDIC Suits
• Investors Target Deutsche Bank Again Over $250M MBS Loss
• Reserve Can't Dodge SEC Suit Over Fund Deception
• Senate Confirms FDIC Board, Other Key Financial Posts
• Volcker Rule Could Clobber Energy Industry, Report Warns
• New House Bill Aims To Extend Ex-Im Bank To 2015
• Investors Seek More Protections In Wake Of MF Global
• BofA Triumphs In Suit Over Handling Of $1B In MBS
• UK Agency Says Banks Need Stricter Bribery Safeguards
• Thornburg's $35M MBS Underpayment Suit Will Proceed
• EEOC Wins Bias Suit For Bipolar Ex-Cottonwood Manager
• BNP Paribas Contract Claim Over BoNY Trust Pay Survives
• Cordray Says CFPB Won't Overstep Dodd-Frank's Scope
• Questions And Concerns Over CFPB Privilege Waiver
• Feds Back Clear Rule For Certain Mobile Payments
• Public Interests And 'Neither Admit Nor Deny' Settlements
• Judge Releases $2.2B In Argentine Assets In Default Case
• House Members Get Few Answers On MF Global's Last Days
• Ocwen Accused Of Forcing Costly Insurance On Homeowners
• Libor Panel Includes Banks Named In Rate-Fixing Probes
• Judge Derails Guilty Plea In Online Poker Case
• Court Backs MBIA In Countrywide MBS Discovery Row
• Geithner Seeks Policy Sway Over Independent FHFA
• Borrowers Ask 9th Circ. To Revive JPMorgan Loan Fraud Suit
• Highland, Barclays Derivatives Battle Lives On
• Allstate Can't Bump JPMorgan MBS Suit To State Court
• Swiss Bank Wants Madoff Suit Out Of Bankruptcy Court
• PCAOB Head Says Auditor Rotation Rule Is Work In Progress
• Must-Have Performance Metrics For Law Departments
• World Bank Doles Out $132M Loan For Cameroon Dam
• Wells Fargo Investors Certified In Securities Contract Row
• MF Global Hearing Will Hinge On Question Of Intent
• German Bank Can't Blame UBS In $500M CDO Suit, Court Says
• CaixaBank, BancaCivica In $1B Deal To Form Banking Giant
• Credit Suisse Scoffs At Damages Bid In $2B MBS Case
• 2nd Circ. Nails Shut Citigroup ARS Class Action
• JPMorgan Can't Ditch Force-Placed Policy Action
• CFPB Backs Wider Window For Home Loan Cancellation
• Five Mile Capital Tries To Stave Off Chicago Hotel Sale
• 7th Circ. Won't Revisit Class Cert. In Merrill Bias Suit
• Gupta Attys To Grill Blankfein On DOJ Deposition Coaching
• A Model Of Cooperation With The SEC
• Dodd-Frank Scores Low Marks From Chamber Of Commerce
• Patentability Of Business Methods — A Global Comparison
• House Passes Bills Tweaking Derivatives Trading Rules
• AmEx, Deutsche Bank Sued For J&G Tax Shelter Scheme Role
• Deutsche Bank To Pay $33M To End Union Funds' RMBS Suit
• Online Poker Payment Processor Cops To Conspiracy
• Feds Want Tighter Underwriting For Leveraged Finance
• MF Global CFO Denies Knowledge Of Fund Transfer Breach
• EFG Hermes, QInvest Could Unite As Top Middle East Bank
• Treasury Opens First Auction Of Banks' TARP-Acquired Stock
• Deutsche Bank Wasn't Cleared To Foreclose In Ark., Suit Says
• UK Fines Coutts $14M For Shirking Client Criminal Probes
• Monitise Shells Out $173M For Mobile Banking Rival
• Trump Entities Claim Rights To Billionaire's Mansion
• Uzbek Gas Field Lands $1B Loan From S. Korea Ex-Im Bank
• BofA Sues La. Hotel Owners Over $35M Loan Default
• SEC Says Wells Fargo Stonewalling Its $60B MBS Probe
• Lehman Insider Tipster Turned Cooperator Dodges Prison
• Deutsche Bank, NorthStar To Take Over John Hancock Tower
• Dems Urge Full CFTC Funding To Prevent Oil Speculation
• Judge Merges Crescent Creditors' Suits Over $1.6B Duke Deal
• Corzine Gave 'Direct Instructions' To Move $200M, Memo Says
• AXA Fights For Punitive Damages In $1.5B ING Row
• Ill. AG Calls For Fannie, Freddie Principal Reductions
• BofA Tests Foreclosure Rental Program
• HSBC Spins Off $480M Middle East Private Equity Branch
• UK Pushes For More Protections In Structured Products
• Judge Sees MBIA-Countrywide Trial Delay Of Up To 9 Months
• Obama Nominates Dartmouth President To Head World Bank
• Extending FINRA's Rules To Debt Research
• Judge Remands NY's Suit Against E&Y Over Lehman Audits
• JPMorgan Shells Out $384M In American Century Arbitration
• Wells Fargo, Other Creditors To Work With Stockton, Calif.
• Deutsche Bank's Dodd-Frank Sidestep May Provoke Others
• Media Tweets Not Enough To Win Stanford New Trial
• Madoff Trustee Renews Fight Against UniCredit In $59B Suit
• Imperial's Disclosure Statement Wins Over FDIC Concerns
• 2nd Circ. Nixes Alki Hedge Fund's $10M Pump-And-Dump Suit
• Ex-JPMorgan Execs Face Fight Over Jump To Credit Suisse
• NY Court Rejects Shareholder Suit Over Morgan Stanley Payroll
• Frank Calls For Simpler Volcker Rule By Labor Day
• Sony Agrees To Sell Chemical Products Biz To Japanese Bank
• Baum Firm Settles NY Foreclosure Allegations For $4M
• Homebuyers' Bias Suit Against Countrywide Heads To 6th Circ.
• Regulators Say Dodd-Frank Set Global Reform Agenda
• JPMorgan Settles Action Over Forced Insurance Policies
• Tenants Say Deutsche Bank Fraudulently Evicted Them
• 11th Circ. Pushes M&T Overdraft Case Toward Arbitration
• 5th Circ. Revives Mirant Suit To Recover Loan Payments
• Arab Bank Ordered To Release Docs In Hamas Terror Suit
• House Subcommittee To Subpoena MF Global Exec
• UBS, Barclays $1.5B CMBS Shops NY Hotel, Chicago Opera
• Lenders Accuse Marco Polo Of Dragging Feet On New Plan
• IDB Sets Aside $700M For Eco-Friendly Projects In 2012
• Dallas Fed Chief Reopens Too Big To Fail Debate
• FDIC OK'd $8B In Failed Bank Official Suits Since 2009
• Senator Introduces Bill To Curb Oil Speculation
• Bernanke, Geithner Warn Against Europe-U.S. Comparison
• Stanford Seeks New Trial Citing 'Prejudicial' Publicity
• Judge Greenlights Suit Over Goldman's Double-Dealing
• Apollo Nabs Irish Credit Card Biz As BofA Trims Fat
• Pacific Capital Investor Challenges $1.5B Union Bank Deal
• El Paso: Another Black Eye For Investment Banks
• Wall Street Group Urges Congress To Delay Volcker Rule
• BofA Didn't Breach Fontainebleau Lending Contract, Judge Says
• Tech Co. Didn't Flout Exclusivity In Citigroup Sale, Judge Says
• Suit Against Barclays Over $400M CDO Goes Forward
• FDIC Alters Bank Fee Calculations After Industry Outcry
• Geithner Will Address Creditors Over Lehman Collapse
• Ala. County Creditors To Appeal Largest-Ever Ch. 9
• 9th Circ. Clears JPMorgan In Bank's $130M Ponzi Scheme
• Capital One, UBS, Others Sued Over Online Banking IP
• Ex-Worker Says Wells Fargo Let Visas Expire, Denied Severance
• Transwestern, BNP Grow Global Reach With Joint Venture
• Banks Don't Want Jury In $5B MBIA Restructuring Suit
• Ex-Taylor Bean Finance Chief Cops To Aiding $3B Fraud
• Lanexa Consents To Pay Disgorgement Over Galleon Scheme
• CFTC Adopts New Swaps Clearing Rules Under Dodd-Frank
• Adopting Zubulake Cost-Shifting Procedures In NY
• Geithner Says Volcker Won't Hurt Sovereign Debt Trades
• The Time Has Come For Plaintiffs To Put Up Their Dukes
• Perkins Lures K&L Finance, Restructuring Specialist
• MF Global Can't Hire Trustee's Firm For Consulting Work
• Stifel Pays $22.5M To Settle School Districts' CDO Suit
• Judge Nixes Berkshire Investor Suit Over Sokol Trades
• 2nd Circ. To Weigh Rakoff's Block Of Citi-SEC Deal In Sept.
• 5th Circ. Revives Stanford Suits Against Proskauer, Others
• Blackstone To Drop $100M On SocGen RE Loan Portfolio
• How They Won It: Skadden Sinks Madoff Trustee's $59B Suit
• Fed To Fine 8 More Banks Over Foreclosure Violations
• FDIC Says Copying Records Could Cost Bank Bosses
• Bahrain's Arcapita Bank Files For Bankruptcy
• Ohio Drops BNY Mellon, State Street Over Forex Suits
• EC Aims To Focus Regulatory Glare On Shadow Banking
• BofA Dodges Class Suit Over 2008 MBS Risk Tally
• Sumitomo Deal Boosts Indonesian Infrastructure Co.
• Judge Says Cabot Unit Must Pay $51M To BofA
• JPMorgan Pays $150M To Settle Pension Funds' ERISA Claims
• ResCap Ch. 11 Looms Closer As Buyout Rumors Swirl
• 2nd Circ. Picks Lankler Atty To Rep Rakoff In SEC-Citi Case
• 2nd Circ. Cold On Revival Of Citigroup ARS Action
• Ex-Omni Execs Face FDIC Suit Over Collapse
• Citibank Pays $2.3M To End Suit Over Military Student Loans
• SEC Swap Trading Analysis Could Hedge Court Challenges
• 8th Circ. Frees Discover Attys From FDCPA Suit
• Keeping The Yakuza Out Of The Financial System
• Jones Day Snags JPMorgan Counsel For Banking Practice
• UK FSA Chief To Step Down As Restructuring Wraps Up
• WaMu Takes Aim At 12 Insurers In D&O Coverage Fight
• Business Groups Back BofA In 9th Circ. Teller Seat Fight
• Insurer Targets Bear Stearns Over $75M MBS Loss
• Wells Fargo To Pare $30M Secured Claims In Dreier Deal
• Rakoff Takedown Reignites Debate Over Settlement Authority
• Senators Urge MF Global Trustee To Scrap Exec Bonuses
• LA Building Owner Says UBS Owed It First Crack At Loan
• Countrywide's Discovery Push Delays Cases, Insurers Say
• Top Senate Dem Backs Raising Credit Union Lending Cap
• Goldman Sachs Can't Escape Credit Unions' MBS Suit
• NC Claims BNY Mellon Broke Deal With $95M Lehman Buy
• EU Bans Dealings With Sanctioned Iranian Banks
• Financial Lobby Fights Lower Cap On Debit Swipe Fee
• BofA Must Seek $18M From Real Estate Mogul In NY Court
• European Regulator Allows Use Of US Ratings Agencies
• 2nd Circ. Needles Rakoff Over $285M SEC-Citi Deal
• Ex-Morgan Stanley Worker Launches $6M Bias Suit
• Judge Certifies Classes In Madoff-Linked Funds Suits
• CFTC Sends Tough Message With Burst Of Enforcement Actions
• Tax Evaders Blast $186M Ruling In Flatotel Loan Case
• Stress Tests Give Fed Additional Capital Hammer
• Ex-Taylor Bean Exec To Plead Guilty In $3B Fraud
• Prepaid Card Law Not Needed With CFPB, Advocates Say
• FGIC Targets Ally Financial Over $2B In Risky MBS
• Swiss Advisers Accused In $200M Offshore Tax Conspiracy
• $200M MBS Suit Against Citigroup Moved To State Court
• Group Appeals For Mercy On Bank Board Regulations
• Sending Financial Holding Cos. To The 'Penalty Box'
• Alpha Bank Nixes Eurobank Merger After Greek Debt Deal
• Banks Ink More Mortgage Deals With State AGs
• Reports Say US Banks Hindered Foreclosure Probe
• 5th Circ. Denies BofA Late Claim In Dallas Logistics Case
• Goldman Pushes 2nd Circ. To Ax $21M Bayou Award
• NC County Sues Banking Giants Over Mortgage Mess
• CFTC Fines Goldman Sachs Unit $7M For Lax Oversight
• Citi, 3 Other Banks Fail Fed Stress Test
• Witness Flub Won't Change Vegas Housing Fraud Verdict
• Group Says Banks Should Increase Board Independence
• NY Court Won't Squelch $686M UBS Suit Over Highland CDO
• HSBC To Pay Credit Union Agency $5.25M Over MBS Losses
• RBS Usurped Control Of Soccer Team, Hedge Fund Says
• Senators Press CFPB To Curb Payday Lending Abuses
• BB&T Takes On Extra $285M Securities In BankAtlantic Deal
• JPMorgan Pays Feds $45M In Loan Fraud Settlement
• HSBC Took $77M In Payments From Insurers, Suit Says
• UBS Clawback Suit Moved Back To Bankruptcy Court
• Proskauer Rose Can't Put Stanford Action On Hold
• Ohio AG Says BNY Mellon Faked Currency Exchange Rates
• CFPB Says Rule Will Safeguard Banks' Sensitive Docs
• Ex-Bank Boss Hid Money To Skirt $4.5M Restitution, Feds Say
• Merscorp, Others Say Texas Law Precludes Record Fees Suit
• Wells Fargo Sues Real Estate Mogul Over $187M In Loans
• Fed Set To Unveil Bank Stress Test Results
• Banks Face Stiff Penalties Under $25B Mortgage Deal
• Judge Keeps $5.9B MBS Suit In Federal Court
• Hungary To Limit Power To Ax Data Protection Regulator
• Bryan Cave Nabs Banking, IP Quartet In Charlotte
• Sullivan Aids Union Bank In $1.5B Buy Of Calif. Rival
• Judge Sends CIT, Tyco Tax Row To 2nd Circ.
• Failed Bank Claims Regulators Forced It To Distort Books
• Why Communications Is Key To Merger And Lateral Success
• Cantor Fitzgerald Exploited Relationship With BGC, Suit Says
• Commerzbank Sues To Stop Changes To $520M CBO
• Capital One Cleared To Buy HSBC's $30B Credit Card Unit
• BofA Agrees To Deeper Writedowns In $25B Mortgage Deal
• Lehman Tipster Asks To Be Let Off Without Jail Time
• NY Regulator Balks At Banks' Subpoenas In MBIA Cases
• Rothstein Trustee's TD Bank Suit Stays Put For Now
• KeyBank Had No Duty To Report Borrower's Woes: 5th Circ.
• HSBC Targeted In Force-Placed Insurance Class Action
• Prepaid Card System Won't Go Dark Amid Price-Fixing Claims
• Barclays, RBS Targeted By US In Libor-Fixing Probe
• Capital One Sued Over $170M In MBS
• HAMP Participants Have Contract Rights, 7th Circ. Rules
• Chinese Activist Says Politics Cost Him Morgan Stanley Job
• El Paso Shareholders Back Disputed $21B Kinder Morgan Deal
• When Is Nonrecourse Loan Fully Recourse?
• BofA Atty Says MBIA 'Harassing' CEO In Deposition Push
• Insurer Says Ally Financial Cloaked $693M MBS Risk
• FHFA Caps Fannie, Freddie Execs' Pay
• Atty's Bond Market Antitrust Claims Don't Hold Up, Banks Say
• Jury Orders Forfeiture Of $330M In Stanford Accounts
• Fed Says HSBC, Others Improved Foreclosure Practices
• Iran Dealings Could Earn Insurers Sanctions Under New Bill
• Regulators Frozen By Fear Of Wall Street Suits: CFTC Member
• Trustmark Must Repay Stanford Vendor $2M: 5th Circ.
• PFF Bancorp Creditors Cleared To Vote On Ch. 11 Plan
• Hedge Fund Sues RMBS Trustee Wells Fargo For Breaches
• BofA Says Calif. Seating Rule Doesn't Apply To Tellers
• Chase Escapes Claims In Flood Insurance Kickback Suit
• State Street Says 6th Circ.'s GM Ruling Undermines ERISA
• 7th Circ. Delivers Win To Morgan Stanley Over Mail Fee
• Bingham Grabs Corporate Pro From Manatt Phelps
• Wells Fargo Trust Recipients Lose Bid For New Trial
• House Adopts Obama-Backed Bill To Trim SEC Red Tape
• Goldman, Merrill Must Bare Evidence In 'Naked' Shorts Row
• Nonbanks Gearing Up For Possible SIFI Rule Challenge
• BofA Denied Homeowners Access To HAMP: Whistleblower
• FDIC Seeks $104M Over Bank's Real Estate Loan Losses
• Former AIG Exec, Ex-Husband Cop To Horse Farm Fraud
• Texas Co. Says It Was Stiffed On $14M Power Plant Contract
• Merrill, BofA Hit With Online Banking Patent Suit
• EU Regulators Seek Feedback On OTC Reform Proposals
• Swiss National Bank Directors Cleared Of Insider Trading
• CEOs Ask White House To Drop Some Dodd-Frank Mandates
• House Dems Oppose Removal Of Fed's Dual Mandate
• Report Urges FHFA Vigilance Over Mortgage Servicing
• KeyBank Can Force Arbitration Under Concepcion: 9th Circ.
• $17M Fraud Suit Against RBS Unit Time-Barred, Judge Says
• Fed Report Says TARP Banks Lend Less With More Risk
• Federal Reserve Board's Way Or The Highway
• Judicial Watch Sues For FHFA's Freddie, Fannie Records
• Madoff Report Calls For Transparency In Trustee Hires
• Researchers Call Dodd-Frank Cost-Benefit Analyses Faulty
• HSBC Sheds Several Insurance Businesses For $914M
• DOJ Defends $335M BofA Deal To Skeptical Sens.
• US Conducting Criminal Libor-Fixing Probe, DOJ Says
• FDIC Hits Failed Ga. Bank's Officers With $11M Suit
• House Committee Balks At SEC's Proposed FY 2013 Budget
• Ex-Freddie Mac Counsel Joins SNR Denton In Washington
• Sens. Float Counterpart To House's Bank Exam Reform Bill
• Sidley Guides Nationstar's $63B Mortgage Servicing Rights Buy
• Cordray Promises Mortgage Insurance, ARM Rules Soon
• White House Slashes FHA Fees To Boost Refinancings
• DOJ Warns Of Coming Criminal Cases Over Financial Crisis
• FTC's Brill Calls For Stronger Coordination With State AGs
• TD Bank Escapes Class Action Over Account Freezes
• Credit Card Users Say Chase, Others Aided Apollo Unit Scam
• DOJ Presses Judge To OK $5M Morgan Stanley Antitrust Deal
• Credit Unions, Banks Battle Over Small Biz Lending Cap
• House Republican Unveils Bill To Reshape Fed
• Lehman Emerges From Landmark Ch. 11
• SEC Chief Mulling Volcker Rule Reboot
• Stanford Convicted For $7B Ponzi Scheme
• Keeping An Eye On Overdraft Protection
• Lehman Blasts Zell's New $1.5B Archstone Bid
• Goldman Sachs Can't Budge Capmark's $147M NY Suit
• 9th Circ. Says Nev.'s BofA Mortgage Suit Belongs In State Court
• FTC Officials Clash Over Whether To Cut 2013 Budget
• Stanford Jurors Deadlocked In $7B Ponzi Case
• CFPB To Handle All Complaints Regarding Student Loans
• Lehman Wins Foreclosure On NYC Building After $338M Default
• UAE Bank Wants $40M Credit Suisse Valuation Suit Revived
• HSBC Scores Docs On $1B Settlement From Insurer CIFG
• 11th Circ. Forces Arbitration In Regions Bank Overdraft Suit
• Judge Misread Credit Card Patent Terms, Fed. Circ. Hears
• Wal-Mart In CFPB Sights As Regulator Clarifies Powers
• Retailers Say Fed Ignored Congress In Debit Fee Rule
• Examining OFAC Guidance On NDAA Iran Sanctions
• Case Study: SEC V. BankAtlantic
• 12 Finance Employment Issues To Watch In 2012
• Credit Suisse Gets Claims Slashed From New Century MDL
• BofA, JPMorgan Earn $170M For Improving Mortgage Practices
• Fed Releases Guidance On Community Bank Upgrades
• Chase Denied Arbitration In Financial Advisers' OT Action
• Bank Group Says Government Portfolio Owes $96.5M Loan
• JPMorgan Nailed With RMBS Suits Claiming $273M Damages
• SBM Held In Contempt For Neglecting SEC Fraud Order
• Groupon, UBS, Others Hit With Messaging Patent Suits
• US Attys Coaching Goldman CEO For Gupta Trial
• Ex-Soccer CEO Stiffed Barclays On $8M Loan, Bank Says
• BofA, Goldman, Others Sued Over $239M Worth Of MBS Sales
• Wall Street Risk Rule Open To Comments For Another Month
• Deutsche Bank Sinks $1B Kirch Settlement
• Regulators Lagging On Dodd-Frank Rule-Making: Report
• Swiss Fund Says Drink Co. Reneged On Rating Promise
• Advancing The Business Tax Reform Debate
• Combatting Calif. And Ariz. Antideficiency Legislation
• Legislators Say Campaign Treasurer Stole Millions
• Builder American West Heads To Ch. 11 In Pact With Banks
• Flagstar, AGM Headed To Trial In MBS Coverage Fight
• New NY Bankruptcy Chief Chides Attys In St. Vincent Case
• Investors' Compensation Suit Too Broad, Morgan Stanley Says
• 11th Circ. Forces Arbitration In SunTrust Overdraft Action
• Proskauer PE, Investment Fund Star Heads To Morgan Lewis
• Commerce Bancorp Can't Escape Ex-CEO's Contract Suit
• Eurozone Withdrawal: Implications For Global Markets
• Perkins Coie Lures 4 Attys From Chadbourne
• Goldman Sachs To Take On Ariel Re's Insurance Operations
• Radius CEO Can't Shake Suit Over $23M In Uninsured MBS
• UBS Fund Drops $74M On Hollywood High-Rise
• CFPB To Start Taking Bank Account Complaints
• Morgan Stanley Unit Hit With $142M Loan Investment Suit
• The Battle For Swiss Banking Traditions
• Deutsche Bank, Loreley Settle $440M CDO Suit