Banking Archive » June, 2012

Banking - June, 2012

333 articles

• Wells Fargo Fund Reaches $25M Deal In Investor Class Action
• HSBC Can't Kick Overdraft Fee Class Action
• Ex-Wall Street Exec Dies In Court After Arson Conviction
• Consumer Class Actions Survive Brush With High Court
• Regulators Urge House To Lay Off Mobile Payments Industry
• Ex-Citigroup VP's $22M Looting Scheme Earns Him 8 Years
• Eurozone Leaders Agree To Single Banking Regulator
• Top UK Banks To Provide Redress Over Derivative Sales
• Law360's Global 20 Firms Open Up New Frontiers
• Citi, McGraw-Hill Workers Take ERISA Suits To High Court
• Obama, Wielding Veto Threat, Enters Fray Over SEC Budget
• D&O Policy Covers Some Losses In Investor Suit: 7th Circ.
• Highland Drops Citigroup CLO Suit Over Manager Role
• Big Banks' Living Will Summaries To Be Released Tuesday
• GAO Pushes Fannie, Freddie Overseer On Mortgage Relief
• Importance Of Procuring Cybersecurity Insurance Coverage
• Case Study: In Re Loop 76
• NJ Assembly OKs Bill To Flip Foreclosures As Low-Cost Homes
• Cleary Guides Oriental in $500M BBVA Puerto Rico Buy
• $80M Ruling Against Ex-IndyMac Execs Bolsters Insurers' Cases
• House Panel Trains Fire On Appraisal Management Cos.
• Barclays CEO Will Get 'Serious Questions' On Libor Dealings
• CFPB Promises To Keep Bank Documents Under Wraps
• NY Court Shoots Down Investors' $1.1B BofA MBS Suit
• Capital One To Build $150M Data Center In Va., Snubbing Texas
• SEC Chairman Mulling Money Market Reform Proposal
• Veolia Sheds UK Water Biz In $2B Deal To Shave Debt
• Comverse's $46M ARS Suit Akin To Nixed Cases, Merrill Says
• European Regulators Propose Caps On Fund Managers' Pay
• CFPB Warns Of Dangers In Reverse Mortgages
• Risks And Rewards Of Ga.'s MALP Bank Charter
• Sentinel Criminal Case Will Take Priority Over SEC Suit
• ABN Amro To Pay Ageas $497M To End Fight Over Securities
• Macy's Credit Lender Sued Over Inaccurate Bills
• Wells Fargo Pays $3.2M To Exit Mortgage Late-Fee Claims
• Sony Sells $731M Chem Biz In Latest Cost-Cutting Move
• Supreme Court Drops First American Kickback Case
• 2nd Circ. Urged To Keep Goldman Sex Bias Claims In Court
• Living Wills Give Banks A Chance To Uncover Own Weak Spots
• TD Bank Call Center Reps Win Class Cert. In OT Pay Case
• Judge 'Ticked' Over Delays In MBIA Suit Against BofA
• NJ Court Won't Revive Broker-Dealers' Claims Against Merrill
• SunFirst Director Gets 3 Months In Online Poker Crackdown
• Judge Won't Rethink Wells Fargo Loan Modification Suit
• Barclay Twins, Irish Treasury Win $1B Hotel Debt Challenge
• Homeowner Protection Bills Win Calif. Panel's Approval
• Ron Paul's Bill To Audit Fed Heads To House Floor
• NY High Court Axes Marcos Victims' Claims To $40M Account
• NY High Court Lets Barclays Off Hook Over $1.6B Toxic MBS
• House Bill Would End 'Frivolous' ATM Class Actions
• Barclays To Pay $450M For Alleged Rate Manipulations
• Lawmakers Reach Deal To Avert Student Loan Rate Hike: Report
• FHFA's Claims Not Too Late In $6B UBS Suit, Judge Rules
• Calif. Atty Gets 3 Years For Obstructing Visa Fraud Case
• Insurers Say WaMu D&O Coverage Suit Is In Wrong Court
• Ex-IndyMac CEO Puts Up $5.5M To Exit Stock Drop Suit
• Merrill, RBC Dodge Claims In MuniMae Shareholder MDL
• Embassy Suites Group Asks 2nd Circ. Not To Appoint Receiver
• Latest EU Rescue Plan Won't Work Without German Support
• Irish Fund Launches $960M MBS Suit Against Deutsche Bank
• AMMB Unit Settles SEC Advisory Fee Suit For $1.6M
• NJ Foreclosure Relief Passes Both Houses, Goes To Talks
• Law Firm's Foreclosure Filing May Be FDCPA Breach: 6th Circ.
• Insurer Appeals SunTrust Win Over Loan Default Coverage
• PNC Bank To Hand Over $90M To Exit Overdraft Fee MDL
• Arcapita Gets OK For Layoffs, Employee Incentives In Ch. 11
• Greenhill Brings On Wachtell Lipton Atty As Director, GC
• Basel Committee Demands Uniform Capital Reserve Reporting
• Citi, Others Must Face Most Claims In Bungled-Mortgage Suit
• Lehman Sues To Keep Stake In $63M Foreclosed Hotel Loan
• Deutsche Bank Sues GE Unit Over $650M Losses In MBS Pool
• JPMorgan Pays $4M To End WaMu Mortgage Kickback Suit
• BIS Tells Banks To Recognize Losses, Wean Gov't Support
• Wells Fargo Exits Mortgage Loan Fee Case For $7M
• Jones Walker Adds Finance Veteran To New Orleans Office
• Fannie, Freddie Sue Illinois Officials Over Transfer Taxes
• Justices Demur In Argentina Investors' $100M Clawback Suit
• Iran's Appeal Of Asset Seizure Stays Out Of Supreme Court
• Calif. Democrats Propose Statewide Foreclosure Reforms
• 'Jacob The Jeweler' Files $12M Suit Against Jailed Adviser
• Mayer Brown Aids Wells Fargo In $6B WestLB Portfolio Buy
• UBS' $2.3B Trading Loss Spurs Investor Class Action
• Latham Lures IP, Tech Licensing Ace From Bingham
• Capital One Customers Win Class Cert. In Overdraft MDL
• Merrill Swaps Reed For Morgan In Deferred Pay Disputes
• Downgrades May Stir Up A Hornets' Nest For Banks
• Judge Strips Homeowners' Countrywide MBS Suit
• Calif. Court Says Citigroup Can Arbitrate Investor Suit
• 9th Circ. Asked To Weigh In On FDIC Citizenship
• Mass. High Court OKs Foreclosures Without Mortgage Notes
• Judge Approves $40M Deal In Lehman MBS Class Action
• GCs Name Law Firms With Top Shelf Brands
• Citi, Others Face Appeal In Airport Bond Antitrust Suit
• UK Watchdog Clears E&Y Over Lehman Audits
• Calif. High Court Says Convenience Check Suit Preempted
• Lessons From World Bank's Sanctions Board Decisions
• Goldman Gets Investors' Abacus Suit Cut Down
• NY Assembly Passes Bill To Criminalize Robosigning
• Goldman Says Icahn's CVR Energy Owes $18.5M Tab
• Oversight Chair Wants SEC To Examine 'Flawed' IPO Process
• Feds Issue Mortgage Guidance For Military Homeowners
• Moody's Downgrades Ratings At 15 Global Banks
• Texas Bank Takes Politically Charged CFPB Fight To Court
• Banks Could Pay Big For Foreclosure Errors
• Casey Urges CFPB To Standardize Bank Account Disclosures
• Failed NC Bank Seeks D&O Coverage In $7M FDIC Suit
• Int'l Lenders Pony Up $1.4B For Moroccan Power Project
• Defunct Bank's Holding Co. Files For Bankruptcy
• SocGen Trader Appeals Code Theft Verdict In 2nd Circ.
• FINRA Fines Merrill $2.8M For Overcharging Customers $32M
• Citi-Led Housing Fund Venture Buys Harlem's Savoy Park
• Fannie, Freddie Hit With Class Action Over Taxes
• SEC Head Touts Money Market Reform In Banking Committee
• FDIC Says Forged Inyx Docs Support $25M Westernbank Claim
• Lessons From US Fund Advisers On Foreign Ground
• Calif. PE Firm Vector Snags $242M Stake In Technicolor
• 2 Morgan Stanley Brokers Awarded $5M In Promotion Dispute
• Kuwait's Boubyan Bank Supports $2B National Buyout
• Houston Pavilions Developers Sued Over $149M Loan Default
• BofA Directors Finalize $20M Merrill Acquisition Settlement
• Banks Press CFPB To Delay Mortgage Disclosure Changes
• Bear Stearns Amply Warned Ky. Bank Of MBS Risk: 6th Circ.
• $200M SEC Boost Fails In House Committee
• Joint Ventures In China: What Every CEO Should Know
• BoNY Sues For Keys To Chicago Condo
• First American Can't Nix $2.3M Verdict Over WaMu Loan
• Brinker Dooms Wells Fargo Workers' OT Suit, Judge Says
• UBS Can Appeal Timeliness Ruling In FHFA's $6B MBS Suit
• 4th Circ. Backs Ex-Taylor Bean Head's $3B Fraud Conviction
• CFTC Moves Toward High-Frequency Trading Regulation
• IPOs Need Cigarette-Style Warnings, Banking Committee Hears
• Ex-JPMorgan Exec Says He Was Axed For Exposing Kickbacks
• OCC Extends Lending Limit Rule To Derivatives
• Settling For Less May Leave Excess Insurers Off The Hook
• JPMorgan Unit Can't Duck Syncora's $666M MBS Repo Claims
• CFTC Funding Cut Passes House Appropriations Committee
• Former Capital One Execs Pay $20M To End Noncompete Suit
• JPMorgan Didn't Hide $2B Loss From Public, Dimon Says
• Banks Fear CFPB Credit Card Database Will Give Them Bad Rap
• HSBC, Insurer End Fight Over $14M Debt Shortfall
• Shoddy Risk Practices Fueled $2B JPMorgan Loss: Watchdogs
• FHFA To Unify Tests For Fannie, Other Mortgage Lenders
• EU Competition Official To Advance Visa Antitrust Probe
• Class Action Waivers Enforceable, Citigroup Tells 2nd Circ.
• BNY Mellon Settles With Prudential Over $28M In Forex Trades
• Nationstar, Berkshire Hathaway Named ResCap Stalking Horses
• Stanford Exec Gets 3 Years For Obstructing Fraud Probe
• CFTC Defends Mutual Fund Rule From Legal Challenge
• BofA Talks Sale Of Non-US Wealth Biz To Swiss Bank
• OFAC's Latest Warning To Cos. Doing Business Abroad
• Lehman Creditors Drop Suit After Quizzing Geithner
• Wells Fargo, Freddie Mac Reach $17M Deal In TCPA Suit
• FHFA May Bar Fraudsters From Fannie, Freddie Business
• Pacific State Execs Say Insurer's Suit Threatens FDIC Talks
• UK's Fraud Office Misfires In Search Of Major Prosecution
• NJ Assembly Panel Advances Foreclosure Relief Bill
• MacroSolve Targets JPMorgan, LinkedIn Over Mobile App IP
• Iranian Bank Tejarat Sues EU Over Asset Freeze
• AXA Rakes In $8B To Buy Bank Private Equity Portfolios
• Ex-Sentinel Execs Deny $500M Fraud Charges
• Shadow Bank Rules May Create 'Maginot Line,' Lenders Say
• Colonial Bank Execs Pay $2.5M To Dodge ERISA Claims
• Rumors Of Bank Liquidity Rule Changes Worry Reformers
• Gupta Win Strengthens DOJ's Hand In Insider Trading Cases
• Barclays, Hedge Funds Reach Deal In $100M Enron Suit
• Discover Told To Clarify Restrictions In Cash-Back Ads
• Jurors Say They Hoped To Free Gupta, But Had To Convict
• FDIC To Clarify Cos. Subject To Its Liquidation Authority
• Spotlight On Fed's Stance On Chinese Control Of US Banks
• Oil Tycoon Accuses Goldman Of Conspiring To Block Financing
• ResCap Fights Berkshire's Bid For Stalking Horse Status
• Former Taylor Bean Exec Gets 5 Years For Role In $3B Fraud
• Derivative Rule Delays In US Slow Global Reform: Report
• Gupta Found Guilty Of Insider Trading
• UAE Bank Settles With Treasury Over $4M Routed To Sudan
• UK's Broad Ring-Fencing Proposal May Outshine Volcker Rule
• JPMorgan Leads $220M Financing For GE, Enel Wind Farm
• FHFA Takes Tough Stand Against Green Home Finance Program
• CFTC May Push Back Swaps Rules For Foreign Banks
• Judge Scolds Attys Bickering Over $8.5B BofA Settlement
• Gupta Jury Weighs Evidence As Deliberations Begin
• Regions Investor Class Wins Cert. In Stock Inflation Suit
• MF Global Trustee Inks $175M Deal With CME Group
• NY AG Pens Legislation To Criminalize Robosigning
• CFTC Floats Blame-Sharing Rule For Swaps Under Dodd-Frank
• Stanford Gets 110 Years For $7B Ponzi Scheme
• Morgan Stanley Returns $67M MBS Row To Federal Court
• Corus Trustee Targets Ex-Execs Over Demise
• Lights, Camera, Courtroom: Lessons From Mike Wallace
• Countrywide Wants Judge To Boot Insurers' MBS Claims
• Prosecutors Recap 'Devastating' Evidence To Gupta Jury
• Judge Won't Excuse UBS From 1st Trial In FHFA MBS Cases
• Syncora, EMC Spar Over Terms Of $666M MBS Repo Deal
• Stanford Receiver Can't Put Hold On Libyan Assets: 5th Circ.
• CFPB Solicits States' Beefs Over Private Student Loans
• Madoff Investor Calls On 2nd Circ. To Oust Trustee
• PE Fund Sues Bank For $10M Over $4M Asset Freeze
• Ex-Orion Bank CEO Sentenced To 6 Years For Lending Fraud
• Volcker Rule Might Have Prevented $2B JPMorgan Loss: Dimon
• Citigroup Asks 2nd Circ. To Uphold Time Limit In CDO Suits
• CFTC's Chilton Recommends Stronger Firewall For Client Cash
• WilmerHale Nabs Hedge Fund Guru From Cadwalader
• Reconciling Muni Direct Loans With Securities Laws
• Senate Panel OKs $1.9B Funding For Dodd-Frank Oversights
• Swiss Re, Others Avoid Covering JPMorgan For Ponzi Losses
• Gupta Defense Rests Case In Insider Trading Trial
• Dimon Will Face Senate Firing Squad Over Reform Opposition
• German Bank Sues Capital One, Barclays Over $87M In MBS
• Dodd-Frank Panel To Tackle Distrust Among Retail Investors
• European Investors Launch AIG Fraud Suit Over CDO Bets
• Tower Bancorp Ends 2 Suits Over $336M Susquehanna Merger
• Ex-Goldman Exec To Start New PE Municipal Market Fund
• Drinker Biddle Bests Lehman Broker's Suit In 2nd Circ.
• The Forgotten Bank Holding Company Act Of 1972
• FDIC's Newest Members Want Tougher Capital Proposals
• Bankruptcy Court Can't Hear Madoff Suits: Barclays, Others
• ING To Pay $619M Over Illegal Cuba, Iran Transactions
• Brazil Lends $700M To Braskem's Mexican Petro Project
• Goldman Sues To Stop FINRA Arbitration Over $125M In ARS
• Judge Says Chase Can't Use Facebook To Serve Notice
• US Wants Stanford On The Hook For $6B In Ponzi Scheme
• Deloitte To Pay $20M To Exit Bear Stearns Investor Suit
• Wells Fargo, BNY Mellon To Pay $106M In MedCap Settlement
• Fiserv Bad Faith Claims Survive In Title Insurance Coverage Row
• Gupta Judge Tentatively Bars 'Second Tipper' Wiretaps
• Ex-Employee Claims HSBC Denied OT To Relationship Bankers
• SEC Issues Road Map For Swap Reform Implementation
• 10th Circ. Gives Strict Window For Mortgage Rescission
• Gansevoort Secures $160M For Park Ave. Hotel Refi
• DOJ Seeks 7 Years For Taylor Bean CFO In Fraud Scheme
• Morgan Stanley Topples Loan Sale Suit In 7th Circ.
• Case Study: Mathews V. PHH Mortgage
• Bank Of Tokyo Expands Lease At Mack-Cali NJ Building
• EU May Fall Short In Upholding Bank Capital Rules: Report
• Pushing For Stricter FCM Controls Post MF Global
• Global Financial Regulators Float Trade Labeling Rules
• UBS May Sue Nasdaq Over $350M In Facebook IPO Losses
• Ambac Investor Asserts Right To Challenge $33M Settlement
• Judge Orders BofA To Cough Up Liability Docs In MBIA Suit
• CME Fines Morgan Stanley For Overstating Crude Oil Futures
• Gupta Will Not Take Stand, His Lawyer Says
• Small Bank Lending Could Take Hit Under Fed Capital Rules
• Foreign Madoff Defendants To Get Hearing In District Court
• FHA Ramps Up Loan Sell-Off Effort To Curb Foreclosures
• Bank Not Liable For Client's ERISA Fraud, 6th Circ. Says
• Lawmakers Urge CFPB to Examine Student Debit Card Abuses
• Borrowers Accuse Lloyds Of Ignoring Real Estate Loan Caps
• Linklaters, Taboglu Aid Sberbank's $3.5B DenizBank Buy
• $1.3M Wrongful Firing Verdict For Ex-Fremont Exec Stands
• Subjecting Mortgage-Backed Securities To TIA
• Morgan Stanley, Ratings Agencies Can't Kill Investor Suit
• E&Y Exits IndyMac Investor Action Over Co.'s Collapse
• Judge OKs DOL's Change In Loan Officers' OT Status
• Goldman Sachs' Blankfein Says Gupta 'Leaks' Not Allowed
• Calif. Court's Take On Class Sampling May Stifle OT Actions
• GOP Rips White House For Butting Into Argentina Bond Case
• US Seeks 230-Year Prison Term For Stanford's $7B Scam
• Fed's New Capital Requirements In Line With Global Standards
• Wells Fargo Improperly Appraised $125M Hotel Loan, Suit Says
• US Broadens Probe Of Federally Insured Mortgage Lenders
• Evidence Dooms MBIA's $5B Breakup, Banks Say
• Recordings Off-Limits In Bid-Rigging Case Against UBS Execs
• Watchdog Group Sues CFPB For Cordray Appointment Docs
• Mass. Senate Passes Bill To Require Foreclosure Mediation
• Countrywide Says Dukes Destroys Class In Loan Bias Suit
• Equity Reaps $150M From Lehman's $1.6B Archstone Stake Buy
• Dodd-Frank Can Resolve Problems Of Biggest Banks: Bernanke
• BofA Sues RE Mogul Over $17.6M In Loan Defaults
• Inner City Investor Sues Parent Over 'Bogus' IP Suit
• Sounding The Safe Harbors Of Section 546(e)
• Goldman, Leap Fend Off Investor Suit Over Short-Swing Trades
• NY, Del. AGs Can Intervene In $8.5B BofA MBS Deal
• Bear Stearns Strikes $275M Deal To End Securities MDL
• Gupta Defense Floats Theory Of Another Goldman Insider
• New CEO Believes Fannie Mae Is Key To Housing Recovery
• Banks Cry Foul On Dewey's Move For Cash Collateral
• Sovereign Claims Stradley Ronon Botched Taylor Bean Loans
• Calif. Cities Want Stay On Foreclosures In View Of $25B Deal
• Madoff Trustee Launches $800 Million In Clawback Suits
• ShengdaTech Note Buyers Sue Auditors, Morgan Stanley
• CFPB Lays Out Final Enforcement Action Rules
• EU Inches Toward Central Banking Regulator With New Rules
• Investors Seek Right To Sue BofA Over $1.1B MBS Flub
• Lloyds Unloads $1.3B Australia RE Loan Portfolio For $600M
• Ex-FDIC Chair Bair To Lead Powerful Private Reform Group
• Goldman, Carlyle Sell Off $2B Worth Of Kinder Holdings
• Bank Regulators Waiting On CFPB Qualified Mortgage Rule
• Comptroller Dropped Ball On $2B JPMorgan Loss, Sens. Hear
• Barclays Unit Pays $1.2B To Pick Up Edcon Card Portfolio
• Citizens Says Ex-Consultants, Wells Fargo Stole Clients
• MF Global Claims Against Ex-Affiliates Top $3B, Trustee Says
• MBIA Says Regulator Followed Law In $5B Breakup Approval
• Barclays Wins Big In Trustee Row Over Lehman Assets
• JPMorgan's $2B Loss Weakens Banks' Anti-Capital Case
• BNP, Deutsche Beat BofA Counterclaims In $1.6B MBS Row
• Fannie Mae, KPMG Slam Investors' Accounting Fraud Claims
• Nationstar Buys $10.4B Home Mortgage Loan Pool From BofA
• House Bill Would Slash Funds For CFTC's Dodd-Frank Work
• Merrill's ARS Disclosures Doom Investor Fraud Suit
• Banks Seek Extension Of FDIC Transaction Account Program
• MBIA Stakes Claims To IndyMac MBS Losses In DC Circ.
• Citigroup, MeadWestvaco Settle $12.6M Site Cleanup Suit
• GM Financial Pays $388M To Settle Calif. Repo Suit
• Morgan Stanley Pays $5M To Settle CFTC Futures Probe
• NY AG Taps Ex-Prosecutor To Lead MBS Probe
• Womble Carlyle Propels BNC Bancorp's $35M First Trust Buy
• JPMorgan Pays $45M To Exit Derivatives Bid-Rigging MDL
• MF Global Report Reignites Debate Over Corzine
• Goldman Board Talks Are Secret, Blankfein Tells Gupta Jury
• Dodd-Frank Critics May Not Embrace CFPB Oversight Deal
• Invesco Pays $141M For Manhattan Office, Retail Building
• Barclays Accused Of Misleading Clients On $808M In MBS
• Investors Must Pay Goldman $1M After FINRA Loss
• MBIA Says $5B Split Meant to Revive Municipal Bond Market
• Madoff Fund Investors' Santander Fraud Case Trimmed
• Bankers Urge 3rd Circ. To Limit Mortgage Rescission Suits
• Orix To Pay $397M For Sumitomo's Orix Credit Stake
• Jones Walker Taps Ex-US Rep. Lazio To Head New NY Office
• Wachtell's Bold BofA-Merrill Advice May Land It In Hot Water
• Gupta Protege Boosts Prosecutor Claims Of Close Raj Ties
• Court Rules Bank Owns Tax Evaders' $50M Fla. Properties
• Dukes Does Not Kill FLSA Collective Action Bid, Judge Says
• Directors, Bank Want Out Of Puda Coal Securities Fraud Suit
• Financial Industry Backs House Cybersecurity Bill
• CFTC Lobs Creditor Claim At MF Global Amid Investigation
• First Horizon Accused Of Reinsurance Kickback Scheme
• Goldman, Tishman Move To Nix Ice Rink Owner's Building Suit
• MBIA Using $5B Breakup To Coerce Settlements, Banks Say
• Cuomo Signs Bill To Tighten Mortgage Licensing Loophole
• OCC Underestimated Robosigning Risk, Watchdog Says
• US Bank Wins Receiver Motion In $188M Embassy Suites Dispute
• CME Fines JPMorgan For Wash Trades In Crude Oil
• Ex-Sentinel Execs Indicted On $500M Fraud Charges