Banking Archive » April, 2012

Banking - April, 2012

334 articles

• MF Global Customer Can't Block Execs From $30M Coverage
• Mortgage Insurer MGIC Settles Maternity Leave Case
• High Court Won't Hear $14M S&L Crisis Case Against US
• UBS Unit, Others Want $2B Madoff Clawback Suit Nixed
• State Street Directors Hit With Shareholder Derivative Suit
• Citigroup Unit Says Analysts Must Arbitrate OT Claims
• Despite Delay, FHFA Likely To Allow Mortgage Relief
• Wall Street Groups Say Risk Rule Shouldn't Cover Nonbanks
• Lehman Takes Ownership Of Calif. Land Portfolio
• CFPB Taps Ex-EEOC Commissioner As New Diversity Head
• Class Cert. Denied In GMAC, US Bank Foreclosure Suit
• Supreme Court Frees Verizon, JPMorgan From Spinoff Suit
• 6th Circ. Says FDCPA Covers Servicers Of Defaulted Loans
• Madoff Feeder Liquidator Urges 2nd Circ. To Back Ch. 15
• Judge Sends Stanford Class Action Back To State Court
• Qatar To Invest $250M In Barclays PE Energy Plays
• 2nd Circ. Won't Certify Investor Class In $7B MBS Suit
• Goldman, JPMorgan, Others Targeted Over $130M In MBS
• PFF Bancorp Wins Court's OK For Liquidation Plan
• Shipper Marco Polo Gets More Time To File Ch. 11 Plan
• Ramifications Of Greenville Lafayette V. Eligin
• Capital One Sues To Seize NY Condo, Citing $53M Default
• JPMorgan Suit Trimmed Over $848M American Century Resale
• Enerjisa Gets €135M For Turkey's Largest Wind Farm
• Picard Urges 2nd Circ. To Revive $30B In Suits Against Banks
• SEC Gives Broker-Dealers Extra Year On Flash Crash Rule
• House Bill Aims To Break Down Banks Deemed Too Big To Fail
• Valiant Sues To Deny $10M Coverage To Horizon Directors
• House Bill Would Halt Foreclosures On Gov't-Backed Loans
• Fidelity Wins Verdict In $55M Suit Over Development Loan
• Industry Urges CFPB To Cut Lawsuit Risk In Housing Rule
• Morgan Lewis Helps Wells Fargo Nail Merlin Securities Buy
• House Passes Bill To Fund Student Loan Rate Freeze Thru ACA
• Citi, Discover Bilked Student Loan Borrowers, Suit Says
• Ex-Capital One Execs Blast Noncompete Pact As Overbroad
• Barclays Sued Over Alleged CDO Double-Dealing
• Union Charter Exits Developer's $100M Fraud Suit Against UBS
• Amalgamated Docs Privileged In $95M Condo Row
• Stanford Victims Push For Streamlined Claims Process
• Standard Chartered Hit With $330M Madoff Clawback Suit
• Payday Lender Wants New Trial In EEOC Bipolar Bias Case
• Ally Says ResCap Could Be Headed For Bankruptcy
• Mobile Payments Need Better Privacy Safeguards, FTC Says
• FTC To Use Light Touch In Mobile Payments Regulation
• Prudential's $27M Suit Over Ethanol Plants' Sale Lives On
• House Dems Defend Position Limits As Part Of Dodd-Frank
• Gupta Investigation Targets Another Goldman Sachs Banker
• MetLife Sells Reverse Mortgage Business To Nationstar
• Case Study: In Re Crane
• Dubai Jeweler Accepts $445M Bid From Mannai, EFG Hermes
• MetLife Targets Morgan Stanley Over $757M In Toxic RMBS
• Calif. Court Limits Class Arbitration In Employment Pacts
• TD Bank Drops Greenberg Traurig After Rothstein Trial Gaffe
• NY Times Sues DOJ Over Cordray, NLRB Appointment Docs
• Operationalizing Law Department Performance Metrics
• EIB Considers $127M Clean Energy Loans To China
• Senate Dems Want Final Volcker Rule Issued By Summer
• Homeowners Win Cert. In WaMu Mortgage Appraisal Suit
• Ex-Morgan Stanley Exec Cops To Role In China Bribery Scheme
• Ex-Optionable CEO Gets 30 Months For Gas Stock Fraud
• Bernanke Says New Rules Should Prevent Bank Bailouts
• Student Loan Interest Bill Slated For House Vote
• Citigroup Wants Solow's Recession Crash Suit Nixed
• 2nd Circ. Will Hear AIG's $10B RMBS Suit Against BofA
• LSP Energy Sues BNY Mellon To Skirt $80M Bond Penalty
• Highland Wants Citi CLO Fight Sent Back To State Court
• Knights Of Columbus Should Sue BofA, BNY Mellon Says
• FLSA Collective Action Waivers Violate NLRA, 2nd Circ. Told
• The Sun Never Sets On Dodd-Frank
• RBS Citizens Pays $137.5M To Settle Overdraft Fee Suit
• SEC Head Defends $245M Budget Request, Reform Progress
• TARP Watchdog Says Too Big To Fail Banks Got Bigger
• Sheppard Mullin Adds Corporate Pro From Cadwalader
• Judge OKs $685M Payout To MF Global Customers
• Goldman Can't Shake Fraud Claims In $120M Abacus Suit
• Merrill Lynch Pays $8.5M To Settle Pension Plan Action
• Citi Units Burned Buyer In $348M Metal Co. Deal, Suit Says
• Judge Lays Out Discovery Limits In Clash Over $8.5B BofA Deal
• Stanford Receiver Asks 5th Circ. For Hold On Libyan Assets
• H&R Block Unit Pays Out $28M Over Alleged MBS Fraud
• French Firm's Bid For Full Tilt Fails, 2nd Buyer Rumored
• CFPB To Study Mandatory Arbitration Clauses
• Deutsche Bank Says Ark. Foreclosure Suit Unfounded
• Feds Want Probe Into New Goldman Leak Suspect Kept Quiet
• Alston Adds McGuireWoods Corporate Finance Partner In LA
• Senate Republicans Blast Regulators On MF Global
• Aleynikov And Nosal — 2 Major Government Setbacks
• MF Global To Face Joined Customer, Investor Suits
• Defining 'Swap Dealer' And 'Major Swap Participant'
• NewPage Creditors Blast Effort To Block $2B Buyout Probe
• Goldman Sachs Seeks To Squash $147M Capmark Suit
• Thornburg Trustee Ordered To Arbitrate $19M Goldman Suit
• Delay Casts Doubt On Credit Union Lending Cap Bill
• GE Ruling Thrusts Rare SEC Rule Into Spotlight
• Hinshaw Nabs Ex-Faegre Business, Consumer Litigator
• MF Global Customers Want JPMorgan Forced To Return Funds
• River Road Makes Case Against Credit Bidding In High Court
• FDIC Sets Cap For Resolution Authority Borrowing
• US Bank Closes $284.7M Loan For Silicon Valley Office Park
• Business Groups Blast PCAOB Auditor Rotation Proposal
• Ex-Merrill Exec's Enron Fraud Case Denied High Court Review
• Union Bank Pays $3.5M To End Calif. Workers' FLSA Suit
• JPMorgan Skirts ERISA Action Over Lehman Investments
• Lehman, Barclays' $3B Contract Fight Hits District Court
• New IRS Rule Won't Spark Exodus From US Banks, Attys Say
• Real Estate Developers Owe $101.4M, Wells Fargo Says
• CFPB OKs Some State Mortgage License Transfers
• Citigroup Shareholders Sue Over $54M In Executive Pay
• Banco Santander Takes $125M Stake In Ariz. Solar Plant
• Fed Taps Academic Panel To Study Bank Stress Tests
• Progressive Sues To Deny Coverage Of Bank's $86M FDIC Suit
• Judge Puts MBIA Restructuring Trial On Tight Leash
• Ala. High Court Backs Broad Ch. 9 Reading In Win For County
• CFTC Plays Hardball As Oil Crisis Intensifies
• FDIC Overestimated 2011 Bank Failure Losses, GAO Says
• JPMorgan Ducks Claims In Lehman's $9B Suit Over Transfers
• Joint Panel To Review Stalled Calif. Mortgage Bills
• Loan Servicers Not Liable For HAMP Breaches, 11th Circ. Says
• Goldman Ducks German Bank's Appeal Of $37M MBS Suit
• Sallie Mae Workers Allege Botched Review In ERISA Appeal
• Winston & Strawn Bolsters Charlotte Team With Company Vets
• Fed's Volcker Rule Grace Period Eases Bank Uncertainty
• BayernLB Strikes At Deutsche Over $810M In Toxic MBS
• Wells Fargo Can't Duck Blue Cross' Securities Lending Suit
• KKR, Goldman Funnel $52M Into Indian Logistics Co.
• Gearing Up For Clawbacks
• EU Watchdog Calls For Increased Monitoring Of Bank Boards
• MF Global Trustee Plans To Pursue $700M In UK Suit
• Citigroup Pay Rejection Puts Wall Street On Notice
• House Committee Advances Bill Gutting Dodd-Frank Reforms
• NY Fed Puts More AIG Bailout Assets On Auction Block
• Global Regulators Push For Safer Mortgage Lending
• BNY Mellon Forex Fraud Suits Centralized In NY
• Investors Target BofA Board In Suit Over Foreclosures
• CFPB Takes Aim At Discriminatory Lending Practices
• SEC Wants More Disclosure For Structured Notes
• Investors Demand Goldman Execs' Evals In Bid-Rigging Row
• Restitution Can't Be Based On Illicit Gains, 2nd Circ. Says
• SEC, CFTC Approve Weaker Swaps Rule Under Dodd-Frank
• Banking On Fraud: Using FCA To Target Financial Industry
• Docket Diving: Strategic Uses Of Online Docket Info
• Ex-Thornburg Execs Smooth Out Shareholder Beef For $2M
• Ohio Tells 6th Circ. To Reopen MBS Ratings Dispute
• Private Equity Wins Out In Battle For Failed Euro CMBS
• Scotiabank Sued Over Lost Contract For Chilean Toll Project
• Fannie, Freddie Ordered To Streamline Short Sales
• Reform Group Urges SEC, CFTC To Hold Firm On Swaps Rule
• Extracting The Thorn(burg) In SEC's Side
• ABA Calls CFPB Rule Guarding Privileged Bank Info 'Chilling'
• 'Rainy Sky' Observed In The Cayman Islands
• Mutual Fund Groups Target CFTC Over Cost-Benefit Study
• DLA Piper Rounds Out Ex-Morgan Lewis Corporate, Tax Trio
• Ally Financial Mortgage Unit Overdue On Bond Payment
• Morgan Stanley Expands Lower Manhattan Lease To 1.2M SF
• Encore Shareholders Blast Exec Perks In $250M Cadence Deal
• Getty Bankruptcy Judge Punts Bank Row To Del.
• MassMutual, Countrywide MBS Row Limited To Underwriters
• Chase Reneged On Credit Offers, Cardholders Say
• Wall Street Says Volcker Rule Ignores Swap Market Reality
• BofA Reaches $230M Deal To Sell NYC Office Tower
• Ex-Im Bank Fight Imperils US Role In Project Boom: Experts
• CFPB Tells 3rd Circ. Home Loan Rescission Suits Valid
• Industry Groups Seek Broad 'Qualified Mortgage' Definition
• Temasek Grabs ICBC Shares Worth $2.3B In Goldman Sale
• Jones Day Adds Addleshaw Project Finance Atty In London
• Fairfield Funds Liquidator Seeks $130M In 5 New Suits
• BNY Mellon Racks Up $6M Fine Over Breached Fed Loan Deal
• NY Home Value Inflation Row Won't Get High Court Hearing
• Hoenig, Norton Join FDIC Board
• WaMu Units Want Last Claim Dropped From MBS Suit
• Ambac Backed $856M In Bad MBS Due To Merrill's Tricks: Suit
• Altering The Leveraged Lending Landscape
• Goldman, MetLife To Release Employee Diversity Reports
• CFTC Fires Back At Industry Groups In Trade Limit Suit
• Securities Regulators Set New Rules For Clearinghouses
• Are Parens Patriae Actions Removable Under CAFA?
• Debit Card Fee Rule Is Legal Under Dodd-Frank, Fed Says
• Calif. Panels Set To Take Up Homeowner Protection Bills
• Judge Stays Proskauer Suits Pending 5th Circ. Ruling
• Auto Parts Co. Loses Bid To Scrap $28M Claim By PE Firm
• Aetna Suit Over $49M Lehman Securities Sale Survives
• Citi OT Class Fights For Collective Action Rights In 2nd Circ.
• House GOP Bill Would Gut FDIC's Big Bank Wind-Down Power
• Lone Star Buys $2B Ex-Lehman CDO From Bundesbank
• Sens. Defend CFTC Trading Limits Rule To Ebb Speculation
• Ex-Synergy CEO Arrested In $750M Bank Fraud Scheme
• Ex-Im Bank Grants $80M Loan For Indian Solar Project
• Sex, Porn Part Of Daily Grind, Says Morgan Stanley Broker
• Bradley Brings In 4 Womble Pros For NC Banking Practice
• JPMorgan Chase Unit, 3 Others Settle Ill. Superfund Suit
• Merrill, Others Say Allstate's $456M MBS Claims Time-Barred
• Wells Fargo Beats $116M Premature Redemption Suit
• Dutch Bank ABN Amro Splits, Sheds Insurance Business Unit
• Fannie Mae Asks Servicers To Protest Chicago Property Law
• Mount Kellett Closes $4B Opportunistic Investment Fund
• Banks Need More Imagination In Stress Tests, Report Says
• Are Class Action Waivers In The Balance?
• Responding To FINRA's Insider Trading Inquiries
• Judge Won't Stop MBIA From Deposing BofA Exec In MBS Suit
• Large Banks Had $640B Shortfall For New Basel Targets
• Wells Fargo Safe From RICO Suit Over $68M Ponzi Scheme
• Former Westernbank Chiefs Seek To Toss $176M FDIC Suit
• Ex-Im Prez Warns Possible Shutdown Would 'Disarm' US Cos.
• Ex-Rothstein Atty To Admit To Campaign Donation Fraud
• CFPB To Hold Banks Accountable For Vendor Violations
• Regulators Fine Goldman $22M Over Trading Tip Favoritism
• CBRE, West Indies Developer Settle $45M Appraisal Suit
• Judge Not Sweet On Sugar Co. Execs' Merrill Testimony
• UBS Wins Dismissal Of Property Owner's Suit Over $69M Loan
• Wells Fargo Ducks 8th Circ. Racketeering Suit Over Appraisals
• $685M Payout To MF Global Customers On Hold
• NBNK Makes New Offer For 632 Lloyds Bank Branches
• TARP Watchdog Faults Treasury For $7.6B Fund Delays
• Weak Governance Still Plagues Financial Sector, Report Says
• Inside The National Mortgage Settlement
• Citigroup Seeks Slam Dunk On $7M Impac MBS Flub
• Morgan Stanley Raises $1.3B For Buyout, Venture Accounts
• CFPB May Lighten Up On Credit Card Fee Restriction
• HSBC Prevails In Majority Of Ex-Banker's Termination Suit
• Boston Fed Chief Pushes For Added Money Market Reforms
• BNY Mellon, JPMorgan, Others Can Appeal Ala. County Ch. 9
• Inspector General Raps FDIC Over Conference Spending
• EU Regulators Seek Uniform Anti-Money Laundering Rules
• Interest Rate Suit Belongs In Court, Not FDIC, 7th Circ. Hears
• Conn. Latest To Probe State Street Forex Trades
• Lehman Set For Record $22.5B Initial Creditor Payout
• Fed. Circ. Backs Visa, Other Credit Cos. In SmartMetric IP Row
• 2nd Circ. Limits Prosecution In Goldman Trade Secret Case
• Force-Placed Insurance: 3 Things To Watch In 2012
• MF Global Execs Can Tap Insurance For Defense Costs
• NY AG Makes 2nd Play To Intervene In BofA's $8.5B MBS Deal
• Deutsche Bank Hit With $38M Claim That Exec Faked Docs
• Group Takes Wells Fargo Housing Bias Beef To HUD
• CFPB Oversight Efforts May Hamstring Mortgage Servicers
• Activision Exec Understood Tax Shelter Risks, Banks Say
• To Protest Dodd-Frank, Kan. Gov. Won't Sign Reform Bills
• Flaws In Obama Mortgage Plan, High Debt Slow Recovery: IMF
• Homeowners Sue Ocwen Over Denied HAMP Modifications
• Fed Governor Says Bank Stress Tests Will Change
• Mortgages Ltd. Officers To Get $3.7M From D&O Insurer
• Paying It Forward: Lehman's Impact On MF Global
• FHFA Chief Says Principal Reductions Could Save $1.7B
• The Problem With The DOJ's Case Against GFI Mortgage
• NAB Slams JE Robert Co. With $60M Contract Suit
• Bank Austria Says Picard Can't Aim Tort Claims At 3rd Parties
• Bankrupt Ala. County Accuses BNY Mellon Of Swiping Funds
• Reserve Defense Can Grill SEC Attys In Fund Fraud Case
• Korea Development Bank Buys HSBC's S. Korea Retail Unit
• IIF Warns Europe Of Moving Too Far On Capital
• Countrywide Says Dukes Dooms Worker Wage Suit
• UBS On Verge Of Beating Developer's Tax Fraud Suit
• HUD Head Pressures FHFA To OK Mortgage Write-Downs
• Ex-Rothstein Partner Charged For Check-Kiting, Campaign Fraud
• MBIA Hid 'Very Dark' Loss Projections, Banks Say
• Goldman Bias Ruling Would Set Dangerous Precedent: Chamber
• UBS Asks To Shield Docs In GE Bid-Rigging Probe
• Reinsurers Deny Role In Alleged HSBC Kickback Scheme
• Proskauer Rose Seeks Review On 5th Circ. Ponzi Decision
• Judge Won't Delay IndyMac Exec's Deposition On Bad Loans
• Merrill Lynch Overtime Suit Gets Preliminary Class Cert.
• FERC Accuses Barclays Of Manipulative Energy Trading
• Fifth Third, BofA Got Reinsurance Kickbacks, Suits Say
• Treasury Freezes CEOs' Pay At Bailed-Out AIG, GM, Ally
• Court Limits XL's Liability For Fiserv Home Appraisals
• Former Loan Officers Sue MetLife Over Unpaid Commissions
• Noteholder Sues To Foreclose NYC Condo Over $19M Default
• BofA Again Fails To Combine Insurers' MBS Claims
• SunTrust Pays $2.4M To End Underwriters' OT Suit
• UBS, Others Ask 2nd Circ. To Bury $30B Of Madoff Claims
• 4th Circ. Revives Repo Preemption Suit Against Chase
• Simple Volcker Rule May Be Out Of Reach, Experts Say
• SEC Accuses Ex-Franklin Bank Heads Of Home Loan Scam
• MF Global Clients Sue MFG Over $120M Policy Proceeds
• Builder's $37M Award Stands In Loan Dispute: 9th Circ.
• RBC Bashes Bank's Effort To Grab $36M Loan Collateral
• Cardholders Sue Global Payments Over Massive Data Breach
• JPMorgan, MF Global Trustee In Talks Over Missing Funds
• Judge Finalizes Banks' Landmark $25B Mortgage Settlement
• Citi Can't Claim Privilege On Advice Used As Defense: SEC
• JPMorgan Hit With Derivative Suit Over Robosigning
• Energy Co. Reaches Deal To Exit Developer's $100M Fraud Suit
• Cadwalader, Arnold Docs Targeted In $95M Condo Loan Fight
• Goldman Ruling Would Undermine Arbitration, Group Says
• Wells Fargo Nailed With $10.4M Verdict Over Lehman Loss
• Fed Backs Banks' Renting Out Foreclosed Homes
• Morgan Stanley Sharpens Clawback Policy Ahead Of Dodd-Frank
• 30 Sens. Urge FHFA To Fix Mortgage-Modification Study
• Dubai PE Unit Closes $2.5B Debt Restructuring
• SEC Exempts Swaps From Some Securities Regulations
• Force-Placed Policies Likely Gouge Homeowners, NY Says
• Citibank Forced To Boost Money Laundering Protections
• Predictive Coding — Cost Savings If Investment Is Made
• Ruth Madoff's Attys Can't Claim Legal Fees, Judge Says
• Ex-Merrill Brokers Win $10M In Compensation Row
• TD Bank Customers Score Class Cert. In Overdraft Fee Case
• FINRA Tells Investment Firm To Pay $4M For High Markups
• BofA Investors Allowed To Reshuffle Mortgage Suit
• EEOC Accuses Chase Mortgage Unit Of Ogling, Groping Women
• FHFA Head Vows Quick Decision On Mortgage Debt Reductions
• SEC Vet Returns For 3rd Dance With Pillsbury
• BofA, Progressive Duck Most Claims In Katrina Payment Row
• Geithner Defends Strong Bank Regs As Crucial To Recovery
• BofA Boots Some Claims From Credit Plan Marketing MDL
• JPMorgan To Pay $20M For Alleged Misuse Of Lehman Funds
• China's Wen Says State-Run Bank Monopoly Must Be Dissolved
• Business Plans For Finance Cos. In Flux With SIFI Rule
• Vector Claims New Evidence In Fight Over $307M Citi Sale
• AllianceBernstein Sues Ex-Adviser Over Morgan Stanley Jump
• JPMorgan Rainmaker Fined For Disclosing Private Info
• EU Antitrust Watchdog Probes $954M Sale Of Dexia Unit
• BNY Mellon Dodges Bulk Of MBS Trustee Action
• HSH Nordbank Sues Barclays Over 'Empty' MBS
• Feds Allege Discriminatory Lending In GFI Mortgage Suit
• RBC Eyes Showdown Over CFTC Wash-Trading Allegations
• Travelers Unit Won't Cover Madoff Suits, Conn. Banks Say
• RBC Will Pay $1.1B For Outstanding Joint Venture Stake
• Wachovia Nabs Slim Win In Employee Raiding Arbitration
• Israeli Bank Hits Bank of America With $721M RMBS Suit
• Morgan Stanley Strikes Foreclosure Deal With The Fed
• US Bank, Others Sued Over Tax Lien Bid-Rigging Scam
• Ex-Orioles Owner Accused Of Reneging On Stock Deal
• Fed Seeks Tighter Definition Of Cos. Governed By Dodd-Frank
• Philly-Area Bigwigs Pay $55M For City's Biggest Papers
• BNY Mellon Dodges Calif. FCA Claims In Forex Pricing Suit
• Regulators Lagging On Dodd-Frank Rules, Report Says
• RBC Sued Over 'Massive' Tax-Avoidance Trading Scheme
• Garment Industry Price-Fixing Suit Denied High Court Review
• Cushman, Credit Suisse Get $24B Resort Investor Suit Pared
• Frank Vows Fight On House GOP Derivatives Bills
• MF Global Customer Seeks To Appeal Loss Of Priority Bid
• FSOC Vote Could Put Key Nonbank Firms Under Fed Rule
• Ambac Goes After JPMorgan Over $200M In RMBS Losses
• DC Circ. Nixes Fannie Mae Shareholders' Accounting Suits
• DBS Group To Buy Indonesian Bank For $7.3B