Banking Archive » May, 2012

Banking - May, 2012

358 articles

• Paul Hastings Nabs Dewey DOJ Vet As 4 Others Exit Broke Firm
• US To Put Goldman's Blankfein On The Stand In Gupta Trial
• SunTrust Mortgage Pays $21M Over Race Bias Claims
• CFTC Wants Sentinel Commingling Funds Case Reopened
• Banks Say MBIA's $5B Breakup Will Affect Homeowners
• Freddie Mac Sues Deutsche Bank Arm Over MBS Warranties
• CFPB Pushes Mortgage Rule Deadline To Year's End
• Madoff Trustee Goes After $212M From Credit Suisse, Others
• Volcker Rule Should Build Hedging Firewall: Ex-FDIC Head
• Repaving The Road To Rating Agency Accountability
• NY's Abacus Bank Charged With Mortgage Fraud
• Pay Practices Could Define Market Making Under Dodd-Frank
• Gupta Defense Looks To Smother Link To Galleon Founder
• Wells Fargo's $7.5M Deal Ends Discriminatory Lending Suit
• EU Bank Bailout Plan Could Lead To Central Regulator
• DLA Piper Guides BofA In Peruvian Hospital Bond Deal
• Fed Finalizes Dodd-Frank Rule On Nonbank Securities Oversight
• Obama Keeps Export-Import Bank Alive Through 2014
• NY Rep Calls For End To Force-Placed Insurance 'Kickbacks'
• JPMorgan Sued Over $180M Liquidation Of Bear-Held Assets
• Frank Floats Bill To Deny Clawback Coverage For Execs
• Resolving The Circuit Split On Credit Bidding
• Drinker Biddle Cost Ex-Lehman Broker $2.5M, 2nd Circ. Hears
• Streamlining Swaps Litigation
• Futures Watchdog Seeks To Rein In Customer Cash Transfers
• NY Fed Contractor Cops To Stealing Source Code
• 4 Mortgage Insurers Cut From HSBC Kickback Scheme Suit
• Whistleblower Takes Home $14.5M In BofA Mortgage Deal
• Gupta Lawyer Grills Criminal-Turned-Cooperator In Court
• Madoff Trustee Seeks $77M From Credit Agricole, Others
• Investors Smack Credit Suisse With $340M ETN Suit
• MBIA Says NY's Review Of Its $5B Breakup Was Rational
• BankAtlantic Can't Sink SEC Claims It Hid Loan Troubles
• UK's FSA Pads Budget With Lucrative Enforcement Actions
• High Court Urged By SG To Decline Argentina Bond Petition
• ResCap Wants Ex-Officers, Affiliates Spared From MBS Suits
• Goldman Buyout Arm In Joint $1B Deal For Interline
• High Court Urged Not To Take Terrorism Insurance Case
• High Court Backs Lenders' Power To Credit Bid In Ch. 11
• Dewey & LeBoeuf Files For Bankruptcy
• JPMorgan Unit Faces $293M Suit Over MBS Loan Buyback Deal
• Community Bank's Libor Antitrust Suit Targets BofA, Others
• Gupta Likely Source Of P&G Tips, Ex-Galleon Trader Says
• Highland Affiliates Want Out Of UBS' $686M CDO Suit
• 6th Circ. Nixes KeyCorp ERISA Case Over Lack Of Injury
• Class Says JPMorgan Made Them Buy Excessive Flood Coverage
• Top Banks Look To Take Raser's Short-Selling Suit Federal
• WaMu Noteholders Still Want In On $10B Deutsche Bank Suit
• Freddie Mac Can't Duck Suit Over Subprime Exposure
• FTC's Credit Report Notices Covered By FCRA, Judge Says
• JPMorgan CEO Tenuously Set To Testify In Congress In June
• SEC Advises High Court To Leave Madoff Investor Suits Alone
• CFTC Hits Coventry Asset Managers With Forex Fraud Claims
• Ron Paul's Fed Audit Bill To Get Full House Vote In July
• Weil Reps Lehman On $1.6B Archstone Stake Buy
• BofA Told To Turn Over Even More Docs To MBIA
• Avoiding FCPA Prosecution For Employee Conduct
• Judge OKs Lehman Ex-Execs' $90M Payout To Investors
• Goldman Commits $40B To Clean Energy Over 10 Years
• BofA Puts NJ Office Complex Up For Sale
• Ex-SEC Atty Barred From Agency After Repping Stanford
• Prosecutors Unveil Key Raj Wiretaps As Gupta Case Builds
• Morgan Stanley To Make Facebook Price Adjustments
• CFPB Lays Out Rules For Extending Reach Beyond Banks
• MBIA Blasts Banks' 'Chutzpah' For Attacking $5B Breakup
• Evergreen Trustee Says Ex-Director Doomed Company
• BofA Hiring Practices Shut Out Older Workers, Applicant Says
• EU Court Tosses MasterCard Intercharge Fee Appeal
• Top Dems Want Trade Pacts To Allow Blanket Capital Controls
• Fast-Food Chains Back Debit Card Fee Rule Challenge
• Jeopardized By Cherryland: Bankruptcy Remote Financings
• Cox Guides CalSTRS In $800M LCOR, Lehman Real Estate Deal
• Flurry Of Facebook IPO Suits May Stand On Shaky Ground
• AIG Claims Pared In $10.5B Countrywide RMBS Suit
• HSBC, Edge Fund Snap Up Downtown Manhattan Tower
• Gupta Jury Hears Raj Wiretap For First Time
• JPMorgan, Goldman, Others Targeted In $1.8B MBS Suit
• Clearinghouses Easy 1st Target For Systemic Designation
• Title VII Doesn't Bar Bias Over Immigrant Status: 7th Circ.
• NJ Panel Advances Bill Speeding Class Cert. Appeals
• White House Orders Gov't Agencies To Take Data Mobile
• Citizens Bank Managers Win Class Status In OT Fight
• CFPB Eyes Regulation For Prepaid Cards
• Allen & Overy Adds Haynes RE Finance Partner In NY
• Electronic Banking Data Bill OK'd By NY Senate Panel
• Barclays Will Net $5.5B From Discounted BlackRock Sale
• Facing Greater Fraudulent Transfer Liability
• Morgan Stanley, Citigroup Put Accounts At Risk, Suit Says
• Judge Shelves $94M Condo Project Loan Fight For Now
• Sens. Unveil Bill To Bar Bankers From Fed Service
• Raj Took Gupta-Linked Call Before Goldman Trade: Ex-Assistant
• MF Global Customer Again Fails To Block $30M Coverage
• NY Says Errors Wouldn't Have Stopped $5B MBIA Restructuring
• Facebook Sued Over Earnings Forecast For Bumpy IPO
• JPMorgan Sued By Employees Over $2B Trading Loss
• US Bank Fights Windsor Intervention In $188M Loan Suit
• Best Practices For Corporate Social Responsibility
• Manatt Adds Latham Leveraged Finance Atty In LA
• HSBC Hit With Patent Suit Over Website Mail System
• Central Clearing Rule Looms For Trades That Nailed JPMorgan
• FINRA Fines Citigroup $3.5M Over Bad Subprime Data
• Goldman Execs' Evals Off-Limits In Buyout Price-Fixing Row
• Treasury Dismisses Financial Crimes Enforcement Head
• Feds Label Gupta 'Ultimate Corporate Insider' To Begin Trial
• Flagstar Accused Of Reinsurance Kickback Scheme
• NM Development Guarantor Owes Barclays $47M: Referee
• Corzine Made $8.5M In 2011 Before MF Global Collapsed
• NY Defends 'Extraordinary' Review Of MBIA's $5B Breakup
• Skadden To Guide BlackRock In $1B Stock Buyback
• FDIC Seeks $77M From Big Banks In 2 RMBS Suits
• GAO Gives Mixed Report On CFPB Practices
• Goldman Scoffs At Duty To Reveal SEC's Abacus Warning
• ABA Urges Congress To Allow Self-Funding For SEC, CFTC
• Judge Trims SEC Suit Against Ex-IndyMac Execs
• JPMorgan Shelves $15B Share Buyback Program
• Dukes Might Not Kill Countrywide Workers' Class, Judge Says
• EU Proposes New Rules To Rein In Credit Rating Agencies
• Supreme Court Nixes $9M Wachovia CDO Arbitration Appeal
• Credit Suisse Shuts Down €6B German Property Fund
• Global Swaps Rules Will Protect US Taxpayers: CFTC Chief
• CFTC To Investigate $2B JPMorgan Trading Loss
• NY Fed's $1.7B Maiden Lane Auction Back On Track
• Citigroup Gets NY Real Estate Mogul's Suit Stamped Out
• Key Bank, HSBC Get Adelphia Hockey Loan Claims Nixed
• Gupta Trial Promises To Be Different Ballgame Than Raj
• DR Horton Can't Stop Arbitration In Citicorp FLSA Suit
• Federal Attack On Calif. Mortgage Overhaul Spurs Debate
• JPMorgan Hands $168M In Collateral To MF Global Trustee
• NY Fed Reserve Postpones $1.7B Maiden Lane Auction
• Treasury Issues Rules For Covering Dodd-Frank Expenses
• Volcker's Global Reach Is Vital Post-JPMorgan Loss: Group
• 8th Circ. Rejects Card Fraud Suit Against US Bank
• MBIA's $5B Restructuring Used Illegal Process, Banks Say
• WaMu Noteholders Can't Weigh In On $10B Deutsche Bank Suit
• Safeco Settles Suit Over Bonds Tied To Ponzi Scheme
• Rep. Seeks To Ease Privacy Notification Rule For Financial Cos.
• Citigroup Directors Escape CDO Derivative Suit
• Lawmakers Seek To Block FHFA Foreclosure Sell-Off In Calif.
• CFTC Wraps Up Reporting Rule For Pre-Dodd-Frank Swaps
• Northern Rock Sale Could Cost Britain $3.2B, Auditor Says
• Opening The Door For Foreign Control Of US Banks
• 2nd Circ. Lets Citigroup Appeal Time Limits In CDO Suits
• Madoff Trustee Claws Back $29M In Trotanoy Settlement
• JPMorgan CEO To Take The Stand Before Senate Panel
• Buffett, Blankfein On List Of Possible Gupta Witnesses
• NY Did 'Shortcut' Review Of MBIA's $5B Breakup, Banks Say
• Regulators, Lawmakers Stand By No Admit Settlements
• Seeking Clarity On Credit Bidding
• Senate Confirms 2 Stalled Obama Fed Nominees
• Top Banks May Need $566B To Meet Capital Rule, Report Says
• En Garde: Prepare Yourself For The CFPB
• Freddie Mac Mortgage Insurance Claims 'Illogical,' MGIC Says
• MoFo Snags Mortgage Expert From BofA In Washington
• African Bank Group To Sink $430M In Infrastructure Projects
• German Bank Slams Barclays With $133M MBS Suit
• Gupta Loses Bid To Keep Rajaratnam Wiretap From Jury
• Suits Over JPMorgan's $2B Loss Could Haunt Bank
• Top House Republican Questions JPMorgan Uproar
• Lloyd's Says It Won't Pay Tab For Allied's Fraud Defense
• Keys To Co-Lending Agreements In Commercial RE
• Ex-Morgan Stanley Legal Chief Rejoins Ranks At Cravath
• Asian Development Bank Sells $339M In Clean Energy Bonds
• Judge Allows Bigger Class In Merrill Race Bias Suit
• Nationwide Class Certified In PNC Bank Overdraft Charge MDL
• Linklaters Aids Investor Group In $4B E.ON Gas Network Buy
• Silver Manipulation May Have Just Been 'Hedging': JPMorgan
• Pottage V. FSA — A Welcome Decision For UK Bank Execs
• GOP Says SIFI Rule Won't Fit Insurers, Other Nonbanks
• Merrill, Goldman Accidentally Release Short-Selling Docs
• ABN Amro, Other Madoff Funds To Get Review By NY Judge
• Ex-Partner Says Troutman Shafted Him Over $20M MetCap Fee
• Senate Breathes New Life Into Ex-Im Bank
• 9th Circ. Won't Review Revival Of BofA Overdraft Suit
• Assured Guaranty Sues GMAC, Ally Over $56M Losses
• 11th Circ. Backs Broad Fraudulent-Transfer Liability
• ResCap To Cease Funding $1.7B In Home Equity Credit Lines
• Ex-Deutsche Exec Pushes 2nd Circ. To Revive Bonus Suit
• After JPMorgan Loss, GOP Delays Bills Weakening Dodd-Frank
• OPIC Commits $88M To Canadian Fund Of Funds
• IKB Sues BofA Over $250M In Soured RMBS Sales
• SEC, Citi Rip Rakoff In Bid To Restore $285M MBS Settlement
• MBIA's $5B Breakup Based On False Figures, Banks Say
• Bank, Credit Fixers Pay $2M To Settle Fee Suit
• Buchanan Ingersoll Lures Back RE Finance Pro From PNC
• DOJ Launches Probe Into JPMorgan's $2B Trading Loss
• Merrill Brokers Slam Bid To Limit Class Size In Bias Suit
• Ruden McClosky Says It Already Paid $4.6M Wells Fargo Debt
• EU Deal Allows For Higher UK Bank Capital Requirements
• Gupta Got $4M JV Boost For Tipping Rajaratnam, Feds Say
• Calif. Assembly OKs Bill To Help Short Sellers Duck Foreclosure
• RSUI Looks To Sink BankUnited Execs' D&O Policy Claims
• UBS' $6B MBS Row With FHFA Gets 2013 Trial Date
• Goldman Disputes $21M Bayou Arbitration Award In 2nd Circ.
• Cleary Gottlieb Snags FDIC's Top Lawyer
• BofA Urges Judge To Dismiss AIG's $10B RMBS Suit
• Splitting Chair, CEO Role May Not Rein In Big Banks
• Judge Narrows Focus Of MBIA Restructuring Trial
• JPMorgan Investment Chief Exits Amid Fallout From $2B Loss
• GOP Rep. Demands Info On Foreign Account Reporting Rule
• Ally Puts ResCap Rumors To Rest With Prepack Ch. 11
• Small Banks Exempt From Stress Tests, Regulators Say
• TARP Auctions: Considerations For PE Fund Managers
• FINRA Shakes Schwab's Suit Over Class Waivers
• TD Bank Puts Up $62M To Check Out Of Overdraft Fee Case
• Autoscribe Sues JPMorgan Over Call-In Payment Patent
• Timing Will Be Everything For JPMorgan As Probes Begin
• NJ High Court To Mull Noncustomer Bank Negligence Claims
• 11th Circ. Denies Wells Fargo Appeal In Insurance Scheme Suit
• UK Atty Helped Hide $10M Family Fortune From IRS, Feds Say
• JPMorgan's $2B Loss May Spur Volcker Rule Tightening
• MBIA Breakup Trial To Put NY Regulators On The Defensive
• Rothstein Conspirator Pleads Guilty To Election Fraud
• Vist Sale Price Too Low, Investor Suit Claims
• Circuit Split? Mirant Vs. Adelphia
• BofA On Hook In Trust Account Investment Suit
• The Latest FCPA Target: Private Fund Advisers
• Merrill Lynch Fails To Shake Suit Over Tardy Wage Payments
• REO To Rental: A New Paradigm For The US Housing Sector
• JPMorgan Shocks Wall Street With $2B Trading Loss
• Wells Fargo Must Repurchase $2.2M In ARS From Investors
• Awaiting Sentencing, Stanford Again Ruled Competent For Trial
• Goldman Sachs Divests $250M To Prep For Volcker Rule
• FDIC Wind-Down Plan Won't Be Pretty, But Just May Work
• Deutsche To Pay $202M In FCA Case Over FHA-Backed Loans
• State Street Bank Can't Shake Pension Fund's Forex Suit
• Calif. Foreclosure Bills To Implement $18B Bank Deal
• Ohio Sen. Renews Fight To Break Up Big Banks
• Wells Fargo Gets Loan Deception Claims Trimmed
• Madoff Feeder Fund Liquidator Seeks $7M In 3 New Suits
• More Ex-Dewey Partners Land At Rival Firms
• CFPB Proposes Regulations To Limit Mortgage Fees
• A Post-Morrison Standard For 'Domestic Transactions'
• Where Rubber Hits Road: Examples Of Alternative Fees
• Fed OKs First-Ever Chinese Bank Purchase Of US Bank
• House Clears $140B Lending Cap For Ex-Im Bank Through 2014
• House Democrats Unveil Overdraft Protection Bill
• Venable Lands Top Treasury Official For Financial Practice
• Group Plans Massive $600M Oil Terminal For Southern La.
• BofA's Exec Pay Plan Wins Investor Favor, Bucking Trend
• Goldman Sachs Can Collect $3M For Renewing NYC Lease
• $2.7B Quarter Prompts Fannie To Spurn Treasury Funding
• Volcker Says Prop Trading Ban Proposal Is Too Complex
• PacWest Goes Public With Spurned $212M Bid For First Calif.
• Wachtell Helps Hilltop With $520M PlainsCapital Buy
• UDAAP May Interfere With 'Ability-To-Repay' Under TILA
• MetLife Subpoenaed By HUD Over Federally Insured Loans
• Investors Can Peer Into $8.5B BofA Settlement Negotiations
• Fed Urged To Implement Better Stress Test Coordination
• Natixis Withdraws From $5B MBIA Restructuring Case
• Scotiabank Sued Again Over Chilean Toll Road Bid Advice
• Banks Say Ohio Prosecutor Can't Sue Them As Class
• Canadian Court Urged To Nix MasterCard, Visa Vendor Rules
• Claims Axed In Suit Over BofA Credit-Monitoring Program
• Judge Links Lawsuits Aimed At $850M In Bad BofA MBS
• ABA Says Account ID Rule Could Violate Client Privilege
• CIMB Spends $290M For Stake In Philippine Bank
• Banks Duck RICO Claims In $40M Rothstein Ponzi Suit
• Dems' Student Loan Rate Bill Stalls In Senate
• 8 Embassy Suites Can't Dodge US Bank's $188M Loan Suit
• NY Lawmakers Act To Tighten Mortgage Licensing Loophole
• HUD Secretary Backs 4 New Responses To Housing Crisis
• Wells Fargo Says DOJ Targeting Mortgage Origination Biz
• 2nd Circ. Chucks JPMorgan Retirees' Enron Loss Suit
• Congress Must Retake Policy Lead From Fed, Paul Says
• Government May Reap $15.1B Profit From AIG Bailout
• Gupta Pushes To Exclude Rajaratnam Wiretaps From Trial
• BofA Kicks Off Mortgage Write-Downs As Part Of $25B Pact
• Lessons From Review Of UK Banks' Anti-Bribery Systems
• Mortgage Insurers Can't Dodge JPMorgan Kickback Suit
• Ratings Agencies Get SIV Suits Pared Down
• Treasury Says It Would Back Bankruptcy Plan For ResCap
• Investors Denied $435M MBS Claim In WaMu Bankruptcy
• Dorsey Grabs Phillips Nizer Corporate Ace For NY Office
• Stanford Receiver's Claims Process Wins Court Approval
• Conservative Group Presses Congress To Cut Off Ex-Im Bank
• House Panel To Question Mission And Existence Of Fed
• BlackRock, Merrill Lynch Escape Shareholders' ARS Suit
• Judge Calls Atty Fees 'Excessive' In BofA Credit Card Deal
• JPMorgan Can't Escape Syncora's $404M MBS Suit
• Bankrupt Arcapita Bank Allowed To Pay Workers, Vendors
• Foreclosure Rental Plan Not A Fit Nationwide, FHFA Says
• Merrill Wants Ex-Brokers Out Of Race Bias Suit
• RBS Profits From Customers' Math Errors, Suit Claims
• Citigroup Wins Round In $7M MBS Suit Against Impac
• Ala. Bill Aims To Speed Up Property Title Clearances
• Judge OKs Class In Overdraft Fee MDL Against BancorpSouth
• Judge Tells BofA Attys In MBS Suit To 'Grow Up,' Stop Delays
• Magistrate Backs Some Class Status In First Data Suit
• FinCEN Extends Comment Period For Account Owner Rule
• Wells Fargo Broke Deal To Sell Checking Accounts, Suit Says
• UBS Can't Derail Suit Over $6B In Bad Fannie, Freddie MBS
• Del. High Court Scraps Investor Suit Over Goldman Pay
• Ex-Home Mortgage Consultant Hits Wells Fargo With OT Suit
• Husch Blackwell Adds Polsinelli Shughart Finance Partner
• BofA Investors Can't Halt $20M Merrill Settlement
• Facebook Backers To Reap Billions In IPO Share Sales
• BofA Hands $250M Tower To REIT In TPG-Backed Deal
• Treasury To Use Auctions To Hasten Bank TARP Exits
• Law360 Names Top Female Trial Attorneys
• FINRA Hires Former SEC Official As Chief Counsel
• Insights From The FTC's Mobile Payments Workshop
• BayernLB Targets Merrill Lynch Over $324M In Toxic RMBS
• Troubleshooting OTC Euro Transactions
• NY Judge Trims CIFG's $275M Suit Against Goldman Sachs
• Former Lehman Execs' $90M Deal With Investors Hits Delay
• JPMorgan's Bad RMBS Sales Hurt Investors, Suit Says
• Fed's Financial Crisis Bailouts Were Legal, Report Says
• Pension Funds Get Cert. In $227M Madoff-Related ERISA Suit
• CFPB Working On Enforcement Actions, But Timing Unclear
• Anti-Blight Portion Of Calif. Mortgage Bills Wins OK
• Cooley Scores Latham Capital Markets Partner In SF
• Groups Fear Obama Order Sends Excessive Power Overseas
• Rep. Calls For Independent Counsel In MF Global Probe
• JPMorgan, PE Arm Snap Up €158M Stake In Technicolor
• UBS Shareholders Join Protest Over Excessive Exec Pay
• WaMu Liquidator Fights Investors' $435M Claim In MBS Suit
• DOJ V. GFI Mortgage — The End Of Discretionary Pricing?
• Regulators Eye Changes To Banks' Risk, Capital Calculations
• Canadian Solar Gets $122M Bank Of China Project Loan
• Mutual Funds Hit Morgan Stanley With $122M MBS Suit
• First Horizon Pays $6M To End Stock Inflation Suit
• Predictive Coding — Putting The Cart Before The Horse
• Visa Faces DOJ Probe Over New Debit Card Fees
• MF Global Customer Challenges Execs' Defense Coverage Bid
• Fannie Doesn't Count As Gov't Entity For Ex-Worker's Suit
• Bank Chiefs Bring Dodd-Frank Worries To The Fed
• Brokers' Remarks Material In SEC Suits, 11th Circ. Says
• RBC To Pay $3M For Investor Losses On Risky ETFs
• Blackstone-Owned RE Co. Leases 30K SF In Midtown East
• Morgan Stanley Execs Upbraided For Poaching Clients
• Investors Drop Subprime Suit Against Countrywide
• Judge OKs $6M Deal In State Street Mutual Fund Suit
• Small Banks Need Private Money To Get Out From Under TARP
• Lowis Fights To Keep Katten On Hook In Bank Malpractice Suit
• Gupta Loses Bid For Financial Info Of SEC Cooperators
• AmEx's $50M Payout In Currency Fee Suit Gets Judge's OK
• House GOP Backs FHFA Delay On Principal Reductions
• Lloyds Says Scottish Widows Isn't For Sale, Denies PE Bid
• Inside The CFPB Proposed Rules For Mortgage Servicers
• GMAC Insurance Scheme Bilked Homeowners, Suit Claims
• BNY Mellon Escapes Last Of Va.'s Forex Fraud Claims
• UBS Unit Shells Out $27M To Quell SEC's Mutual Fund Claims
• Calif. Short Sellers One Step Closer To Avoiding Foreclosure
• Liberty Bell Investors Denied Bank Docs Due To Misconduct
• Big Biz Hails Obama's Order To Align International Regs
• Fed Says Durbin Amendment Led To Debit Card Fee Nosedive
• FHFA Chief Denies Hiding Info On Mortgage Principal Cuts
• Investors Implicate Banks In Libor Manipulation MDL
• Mutual Benefits Atty Linked To $1B Scheme Faces SEC Suit
• Citigroup Sued Over 'Exorbitant' Executive Pay Hikes
• FASB May Allow Private Banks To Reduce Disclosures
• BofA Slams Bid To Group Cases Over $2B Casino Financing
• Judge Appoints Receiver For Frozen $18M Ponzi Settlement
• Feds Want To Use Rajaratnam Wiretaps In Gupta Case
• Citi, UBS, Others Fined $9M Over Unsupervised ETFs
• Another Exec Joins Wave Of Exits From Fannie, Freddie
• Case Study: US V. Aleynikov
• Dodd Frank Update: Clarifying Volcker