Banking Archive » September, 2012

Banking - September, 2012

332 articles

• Judge Rejects Dodd-Frank Limits On Derivatives Contracts
• UBS Escapes Investors' MBS Fraud Class Action
• Morgan Stanley Defeats 'Short-Swing' Insider Trading Suit
• JPML Won't Consolidate Mortgage Insurance Kickback Suits
• Janus Defeats Investor Suit Over Exec Pay Package
• BofA Workers Win Class Cert. In Wage-And-Hour MDL
• Proposed Libor Fixes May Open Door To New Benchmark
• Ex-Im Grants Historic $5B Loan For Saudi Petrochem Plant
• ING Can't Foil Class Cert. Bid In ERISA Kickbacks Suit
• Troutman Sanders Adds Ex-Arent Fox IP Atty In Washington
• JPML Won't Merge Excise Tax Suits Against Fannie, Freddie
• ShengdaTech Investors Seek Hogan's Removal In KPMG Row
• Deutsche Hit With Fraud Claims Over $1B CLO Deal
• HSBC Confronts Deutsche Bank Over $183M In MBS
• CFPB Says Brazil, China Among Remittance Safe Harbors
• CoreLogic Pays $8M To End WaMu Appraisal Inflation Suit
• What We've Learned From CFPB's 1st Year
• BofA Strikes Historic $2.43B Settlement Over Merrill Buy
• Alger Can't Evade Investment Manager's Whistleblower Suit
• JPMorgan, ANZ Fined $1M Over Futures Trading Violations
• Calif. Mortgage Reforms Usher In Regulatory Crackdown
• Geithner Pushes Regulators To Force Money Market Fixes
• Homeowners Win Class Cert. In Bear Stearns Mortgage Row
• BofA Can't Use Dukes To Kill Class Claims In Sex Bias Suit
• Chase Home Finance Beats Truth-In-Lending Class Action
• Ex-IRS Official Charged With Conflict After Taking Bank Job
• SEC Gets Tough On Muni Conflicts With $12M Goldman Fine
• Bank Threw CEO Under The Bus Over Refco Fallout, Suit Says
• Sens. Urge Regulators To Review Basel Impact On Small Banks
• Ex-Goldman Coder Pleads Not Guilty In 2nd Theft Case
• Allen Family Notches Win In Forgery Suit Over Ranch Deal
• ResCap Bondholders Drop Backing Of Ch. 11 Plan
• Wells REIT Defeats Shareholder Merger Challenge
• Regulators Again Delay Derivative Swaps Margin Rule
• RBS Bid For High Court's Eye On OT Class Wins Biz Support
• 6th Circ. Revives FCRA Suit Against Bank Over Forged Check
• Europe's Banks Lag In Reaching Required Capital Levels
• Assured Guaranty Calls $1B Lehman Suit A Stretch
• FINRA To Scrutinize Incentives In Sale Of Complex Investments
• FHFA Needs Better Fannie, Freddie Oversight, IG Says
• Think Before Incorporating SEC Filings Into SPDs
• Japan Backs Exxon's $16B Papua New Guinea LNG Builders
• Cerberus To Sell $2.5B Stake In Aozora Bank
• Deutsche Bank Unit, Others Escape Libor-Tied Loan Lawsuit
• Goldman Paying $12M To End Landmark SEC Pay-To-Play Case
• Blackstone Unveils $960M Traded Credit Fund
• CFPB's Tough Tactics Rubbing Off On Other Regulators
• SNR Denton Sued Over Filing Error In $7M Citigroup Deal
• Giants Want Docs From Lehman In $300M Stadium Dispute
• Ex-Credit Suisse Exec Charged With Inflating Mortgage Bonds
• NY Realty Co. Says Landlord Wrongly Kept Letter Of Credit
• 6th Circ. Kicks JPMorgan Subprime Case Back To Federal Court
• Wells Fargo Accused Of Stiffing Workers On OT, Breaks
• Freddie Mac Gets Bond Auction Patent Nixed As Abstract Idea
• FHFA Sues To Force HSBC To Buy Back RMBS
• AGM, Flagstar $1B Coverage Fight Still Heading To Trial
• Arcapita Seeks Green Light On $150M DIP Package
• Banks To Reveal Some Muni Bond Yields Under New Rule
• Tools For Handling Mortgage-Based FCA Claims
• Columbia, West Coast Banks To Merge In $506M Deal
• Ex-Goldman Coder Sues Firm For $2.4M Theft Defense Fees
• LendingTree Escapes Bank Rate Price-Fixing Allegations
• SEC Charges Ex-TierOne Bank Execs With Hiding Losses
• Credit Union Agency Sues Barclays Over $555M In Risky RMBS
• Freddie's Transparency Helps It Beat Investor Suit For Good
• CFPB's Broad Doc Request Ruffles Feathers
• San Fran To Triple Blight Penalties For Foreclosure Owners
• US Bank Sues Hotel Co. Over $165M Loan Default
• Lloyd's Converts $20M Goldman Accident Suit To Class Action
• ResCap Creditors Seek Docs On $9B RMBS Settlement
• Pension Fund Sues Discover For Docs On Fee-Based Products
• CFPB Says Consumers, Lenders Get Different Credit Scores
• Gabelli Market-Timing Case Will Get Supreme Court Review
• UK Bankers Group Votes To Give Up Libor-Setting Role: Report
• Restaurants Latest To Rip $7B Visa, MasterCard Swipe Fee Deal
• Progressive Can't Duck D&O Coverage For $8M Bad Loans Suit
• 4 Tips For Banks To Fend Off Mounting Cyberthreats
• Banks Fail To Pin $492M Investment Loss On WestLB
• Citigroup Can't Dodge Mortgage Overcharge Class Action
• FSA Asks Parliament To Expand Anti-Fraud Powers
• CFTC Chief Pushes EU On Transaction-Based Libor Substitute
• 1st Circ. Reopens BofA Force-Placed Insurance Suits
• Regions Settles FCA Suit Over Alleged $2.4M TARP Fraud
• Homeowners Fight For Own Committee In ResCap Ch. 11
• Int'l Regulators Want Rigorous Oversight Of Financial Firms
• 9th Circ. To Mull Concepcion In KeyBank Loan Suit Rehearing
• FINRA Fines Merrill Lynch Over Unfiled Broker Reports
• EU Charge Fees May Need New Law, Antitrust Official Says
• Oregon Hits Back At WaMu Over $29M Tax Claim
• AGs' Dodd-Frank Fight Could Point Way For Further Protests
• CMBS Market Starts Slow Climb Upward
• CFTC Regulator Demands Final Rule On Derivatives Conflicts
• Discover Says It Will Pay $200M To Cardholders Over Fees
• Madoff Trustee Argues Morrison Won't Nix Foreign Suits
• Student Loan Agencies Claim Immunity From Qui Tam FCA Suit
• Standard Chartered Seals $340M NY Deal Over Iran Violations
• MF Global Ch. 11 Trustee Wants $8M From Energy Trader
• Credit Suisse Says Dutch Fund's RMBS Suit Time-Barred
• Banks Blast Retailers' Concerns Over $7.25B Swipe Fee Deal
• World Bank Reinstates $1.2B Funding For Bangladesh Bridge
• House Panel Clears Rep. Waters Over Husband's Bank Ties
• Revising The Risk-Based And Leverage Capital Rules: Part 2
• 3 States Join Constitutional Challenge to Dodd-Frank Act
• HUD Paid $1B For Incorrect Mortgage Claims, Report Says
• CFPB To Revise Restrictions On Credit Card Applications
• Former Fannie CEO Beats Claims In $6.3B Subprime MDL
• Sheldrake Exec Gets 1 Year For $2.2M Battery Park Condo Scam
• Ally Ordered To Turn Over Saab Loan Docs In Bankruptcy Row
• MDL Panel Wary Of Consolidating Fannie, Freddie Tax Suits
• Congress Grills Experts On Capital Gains Tax Reform
• Obama Admin's Welfare Waiver Rule Snubbed By House
• BofA Calls Bid To Join Mortgage Insurance Suits A Power Play
• High-Frequency Trading Needs Speed Limit, Experts Tell Senate
• Peregrine Trustee Gets OK To Return $123M In Customer Funds
• JPMorgan May Have Misled Regulators, FERC Claims
• US Bank Denied Quick Victory In AMR Collateral Row
• Most Parties In Facebook IPO Suits Want Cases Merged In NY
• House Bypasses SEC To Define Muni Bond Advisers
• Basel Committee Says Banks Are Nearing Capital Standards
• Rating Agencies Dodge Claims In $9B Investor Suit
• Politics Delay Senate Vote On 6-Month Stopgap Budget
• Judge Worried MedCap Investor Payouts Could Shaft Creditors
• FDIC Likely To Pounce On GOP Insurer Insolvency Bill
• RBS, Wells Fargo Win Timeliness Appeal In $1B MBS Suits
• Bear Stearns Investor Group Says $275M Deal Not Enough
• WL Ross Gets OK To Buy Lehman's $110M Stake In Navigator
• Bankrupt Arcapita Floats Settlement With 6 Senior Managers
• Deutsche Worker Says She Was Axed Over 'Mommy-Track' Suit
• Morgan Stanley, Wells Fargo Face Clash Over $73B In MBS
• BofA Wrongly Withdraws Fees From Child Actor Accounts: Suit
• Crowell & Moring Adds Capitol Hill Vet With Dodd-Frank Chops
• FSA Raised Libor Worries About Ex-Barclays CEO In 2010
• Citizens Bank Loan Officers Win Class Cert. In FLSA Action
• Dukes Nixes Class Cert. In Option One Race Bias Case
• NY Judge Tosses Most Claims In Morgan Stanley HAMP Suit
• SEC Fines Chicago Broker $1M For Misleading Energy Offerings
• KPMG Loses 2nd Bid To Nix Advanta Shareholder Class Action
• Peregrine CEO's Son Boldly Blames US Bank For Father's Fraud
• Insurer Sues To Skirt Coverage Over $12M Lost By Ill. Agency
• Morgan Stanley Nixes $5M Broker Award Over FINRA Conflict
• NY Appeals Court Nixes $895M Sao Paulo Road Swaps Suit
• LightSquared Lenders Seek Right To Pursue Harbinger Claims
• JPMorgan Defends Dewey's $71M Clawback Plan
• FDIC, Insurers Reach Deal In $25M Westernbank Claim Fight
• MBIA Seeks Jury For BofA, Countrywide MBS Fraud Claims
• Fannie Mae Taps Ex-Pfizer Litigation Chief For GC Role
• Investors Go For Cert. In $24B Credit Suisse, Cushman Suit
• Judge OKs $40M BofA Deal With Ex-Advisers Amid Objections
• Fannie Didn't Overpay In $512M BofA Mortgage Deal: FHFA
• Gibraltar Agrees To $65M Deal To Skirt Rothstein Claims
• Calif. Judge Tosses Atty's Defamation Suit Over Mining Deal
• OCC Calls Rental Properties As Risky As Commercial Loans
• 9th Circ. Nixes Mortgage Fee Suit Against BofA, Others
• Sallie Mae To Pay $24M To Settle TCPA Suit Over Debt Calls
• Merrill Lynch Can't Shake $10M Award To Ex-Brokers
• Citibank Denies Conspiring Against Dewey Partners
• Peregrine CEO Admits $100M Scam, Stays In Jail
• 5th Circ. Affirms Class Cert. In Countrywide Loan Fee Suit
• Pryor Cashman Adds Securities Offerings Pro From Pillsbury
• MoFo Guides $250M Refinancing Of Lord & Taylor Flagship
• AIG's $10B BofA Suit Belongs In State Court, 2nd Circ. Told
• Fannie Mae Changes Income Reporting Policies For Some Loans
• Holland & Knight Hires SNR Denton White Collar Veteran
• UK Inks Pact With US To Help Catch Tax Cheats
• Lehman Wants $2B JPMorgan Derivative Claims Trimmed
• Citigroup Tells 2nd Circ. RE Mogul Can't Back Up Fraud Claims
• The CFPB Company Portal — It's Your Company's Radar
• Interpreting JOBS Act Ambiguities
• Citi, SEC Lash Back At Rakoff Over Rejected $285M MBS Deal
• Basel's Rethinking Of Liquidity Rules May Force US Hand
• 6th Circ. Says FDIC Can't Recover $765M In AmFin Dispute
• CORRECTION: Energy Co. Hits Venezuelan Bank With $300M Defamation Suit
• Bain, Others Must Show Harm To Shield Docs In Antitrust Case
• GOP Sen. Urges SEC Action On Money Market Reform
• Rothstein Pal Gets 3 Years For Campaign Fund Fraud
• Lending Duo Leaves Greenberg For Edwards Wildman
• SEC Taps Agency Counsel For Deputy Compliance Post
• Chamber Backs Barclays In MBS Disclosure Row In 2nd Circ.
• WaMu Liquidating Trust Wants $29M Ore. Tax Claim Junked
• Top FDIC Official Wants US To Abandon Basel Banking Accord
• Revising The Risk-Based And Leverage Capital Rules: Part 1
• A Primer On Alternative Fee Arrangements
• Capital One To Pay $10M To Settle Suit Over APR Hikes
• Texas Agencies Grapple With Dodd-Frank Preemption Concerns
• FINRA Nixes $8M In Investor Claims Over Morgan Keegan Bonds
• BofA Settles Claims Of Bias Against Disabled Borrowers
• FTC Reserves Judgment On Credit Report Reform Measures
• Avon Safe From SEC Action Over Financial Analyst Contacts
• JPMorgan Investor Demands Info On $6B Trading Loss
• House Passes Stopgap Bill To Fund Government For 6 Months
• House GOP Bill Aims To Halt Mortgage Seizure Plans
• Peregrine CEO To Await $200M Fraud Sentencing As Free Man
• Groups Back BofA In AIG's $10B RMBS Appeal In 2nd Circ.
• House Panel Moves To Block HHS Welfare Waiver Rule
• JPMorgan Retirees Blast ERISA Ruling In High Court Appeal
• Dodd-Frank Risk Council Failing At Communication, GAO Says
• Capital One Netted $5M In Force-Placed Insurance Scheme: Suit
• Ex-Stanford Exec Gets 3 Years For Obstructing Ponzi Probe
• US Bank Can't Score Early Win In Fight Over Hilton Franchise
• Cordray Denies CFPB Is Ignoring Law On Mortgage Charges
• Dexia Can't Kick JPMorgan RMBS Suit Back To State Court
• Chase Can't Get Rounding Allegations Nixed In OT Suit
• Chubb Unit Beats Bank's Suit Over Embezzlement Coverage
• Ex-Jenkens Atty Admits Role In $100M Tax Shelter Fraud
• BBVA Compass Hit With TCPA Suit Over Mobile App Ad Texts
• Barclays Sells $1.4B Student Housing Stake To Dutch Co.
• Barclays Wants Libor-Tied Loan Lawsuit Dismissed
• Innovative Structures In Islamic Project Finance
• Jones Day Reps FirstMerit In $912M Bank Buy
• Banks Get Claims Cut From $600M Funeral Fraud Case
• Calif. Bank Settles DOJ Mortgage Bias Case For $2M
• Kirkland & Ellis Snags Ex-Goldman Sachs Counsel
• Citigroup Data Security Suit Heads To Arbitration
• Wells Fargo Loan Processor Loses Cert. Bid In OT Suit
• Santander Owes BNY Mellon $308M In Bond Row, Judge Says
• IRS' $104M Whistleblower Award May Curb In-House Reporting
• Unified Eurozone Bank Oversight Will Test ECB Powers
• Row Over Merkin's Madoff Feeder Funds Partly Revived
• MF Global Trustees Deny Layoffs Stepped On WARN Act
• New BuckleySandler Office To Advise On Mortgage Regs
• SEC Readies For Trial With Reserve Management
• Ex-Equipment Finance Exec Gets 20 Years For $53M Fraud
• Willkie Farr Real Estate Expert Heads To Bryan Cave
• Bain, Others Bow To Pressure Over Sealed Docs In LBO Case
• Charities' Fraud Suit Against Ex-Lehman Execs Revived
• Peregrine Trustee Holds Off On Plan To Return $123M In Funds
• Ex-Madoff Controller To Plead Guilty, Prosecutors Say
• Citigroup Ordered To Pay $1.5M For Misleading Investor
• Industry Groups Want CFPB Finance Charge Rule Dropped
• Addressing The Scope Of CAFA In Supreme Court
• Merrill Lynch Must Pay $3.6M To Heiress In Trading Dispute
• Investor Targets MBIA Over $5B Restructuring Transfer
• Morgan Stanley To Buy Remaining Stake In $13.5B-Valued MSSB
• 9th Circ. Cans WaMu Workers' Pay Claims Against FDIC
• Anschutz May Doom SIV Claims Against Morgan Stanley, Others
• Court Says Valerus Waived Jury Trial In $165M Credit Row
• House Mulls Quick-Fix Spending Bill To Buy 6 More Months
• Ally Rips Saab Creditors' Discovery Bid As 'Harassment'
• East Asian Bond Markets Near $6T, But Hurdles Loom: Report
• FSA Fines BlackRock £9.5M For Mixing Client Funds
• House Dem Wants Freddie, Fannie To Offer 50-Year Refinancing
• 7th Circ. Tosses Merrill Lynch Bias Suit Over Bonus Plan
• Shareholder Opts Out Of BofA-Merrill MDL, Sues For $10M
• Katten Adds Ex-Sidley Structured Finance Pro
• Fannie, Freddie Buyback Policy To Ease Friction With Banks
• Peregrine CEO Admits To $200M Fraud, Inks Plea Agreement
• First Horizon Derivative Suit Time-Barred, 6th Circ. Says
• House Passes Bill Allowing FHA To Raise Premiums
• $1.6B Nev. Project Developers Sue Lender Over Land Ownership
• Judge Threatens To Bump ResCap RMBS Hearing To 2013
• Jailed UBS Tax Whistleblower Gets $104M IRS Award
• Opposition To $7B Visa, MasterCard Swipe Fee Deal Grows
• 2 Reserve Witnesses Barred From Stand In SEC Suit
• KPMG Can't Get Fraud Suit Over Rangers Audit Tossed
• Ill. Lawmaker Encourages Vote On FHA Finances Bill
• Banks Move NJ Mortgage Fee Whistleblower Suit To Fed. Court
• BNY Mellon Investor Suit Over Lehman Losses Trimmed
• Calif. Official Asks DOJ To Probe Mortgage Seizure Collusion
• Carr Miller Receiver Hits Firm's Ex-GC With $31M Suit
• Health Contractor Strikes $30M Deal In Wells Fargo Loan Suit
• Senate Dems Eye GOP Support For Smaller Mortgage Refi Bill
• Former IndyMac CEO Dodges SEC's Risk-Weighting Claims
• Wells Fargo Seeks To Exit Home Equity Suit
• HSBC Hits Troutman Sanders With $75M Malpractice Suit
• Securities Group Calls For Gov't Role In Setting Benchmarks
• Banking Group Calls For Volcker Rule Rewrite In Congress
• CFTC Pushes For Delay In Returning $123M In Peregrine Funds
• How FINRA Rule 2111 Affects Fee-Based Accounts
• iStar To Pay $29M To Settle Shareholder Class Action
• Cooperator In Rajaratnam Prosecution Seeks Probation
• Prudential Targets Goldman, Others Over $796M In MBS
• DZ Bank Hits Goldman Sachs With $189M RMBS Fraud Suit
• FHFA Can't Block Calif. Mortgage Seizure Plan, Co. Says
• 'Soft Dollar' Claims — Not Protected By SIPA
• Bank Says Developer Breached $22.5M Loan Agreement
• Blackstone Buys Majority Stake In Cell Tower Leasing Co.
• Ex-Loan Officers Hit Regions Bank With OT Pay Suit
• Mayer Brown Lures Financing Partner From Haynes And Boone
• EToys IPO Suit Against Goldman Heads To NY High Court
• ATM Antitrust Case May Have Opened Loophole It Can't Close
• ICP, Founder To Pay $24M In MBS Fraud Settlement
• Amending Rule 506 — Opportunities For Private Funds
• FSA Considers Customer Fund Changes In Wake Of MF Global
• Credit Union Watchdog Says UBS Falsely Sold $1.1B In RMBS
• To W-2 Or 1099, That Is The Question
• GSC Lender's Defamation Claims Nixed In Asset Sale Row
• GAO Welfare Ruling Adds Congress To Agency Rulemaking Mix
• Bankers' New Advocacy Group Shows Shift In Lobbying Tactics
• Saab Creditors Demand Info On Ally's $61M Claim
• Insurer Must Cover Bank In Ethanol Plant Debacle: 7th Circ.
• Wells Fargo Asks Court To Pare $13M Nev. Real Estate Suit
• FERC Wants $1.5M Market Fraud Fine For Deutsche Bank
• CIT Must Face Tyco's $190M Tax Claim, 2nd Circ. Says
• Morgan Keegan Wants Sports Agent's Bond Award Reversed
• Chinese, French Banks Launch $190M PE Fund
• 2nd Circ. Revives Goldman Sachs Mortgage Class Action
• BayernLB Hits Goldman Sachs With $512M RMBS Suit
• Manatt Adds Ex-Dewey Banking, M&A Partner In NY
• BofA Scoffs At Suit Over IRS Mortgage Interest Reporting
• CFPB Unveils Exam Procedures For Credit Reporting Cos.
• Age Of The Whistleblower: Incentives And Protections
• How The CFPB Is Crushing Small Lenders
• Creditors Want ResCap Held To Ch. 11 Talks
• 6th Circ. Revives Fifth Third ERISA Class Action
• Romney Offers Up Plan To Reform Housing Market
• 3rd Circ. Says Amended Foreclosure Suit Is Time-Barred
• MF Global Trustee's Claims Assignment Deal Wins Judge's Nod
• RBS Dodges Investors' Suit Over Subprime MBS
• Feds Fight Ex-Deutsche Broker's New Trial Bid In Tax Case
• German Bank Sues Goldman, Citi Over $210M In Bad MBS Bets
• Sealink Claims UBS Misrepresented $160M In Soured RMBS
• KeyBank To Get $201.9M In Project Loan Default Suit
• Embattled NJ Lawmaker Faces New Loan Default Suit
• UK Takes Aim At Bonuses For Financial Product Sales
• ING Stands To Reap $3B From Capital One Stake Sale
• JPMorgan Gets Partial Win In $13M Meritage Contract Suit
• Banks Ask Fed To Ease Stress Test Data Collection
• WaMu Units Will Pay $26M To End MBS Class Action
• Case Study: PNC Bank V. LA Development
• Debtors Win Class Cert. In Leucadia Collections Suit
• Consumer Groups Blast Dodd-Frank Down Payment Proposals
• WilmerHale Lands FINRA Ace For Securities Team
• TD Bank Tagged With FLSA Class Action Over Pre-Shift Work
• CFTC's Cross-Border Derivatives Rules Rankle Foreign Peers
• Santander Takes 90% Stake In $256M Aussie Wind Project
• Beware: Marrying Lender And Developer Marketing Efforts
• State Street Takes GM Workers' ERISA Suit To High Court
• Citigroup, Execs Targeted In $9B Euro Note Class Action
• Murphy & McGonigle Folds In Securities Boutique Krebsbach
• BofA Wins Class Cert. Fight In Suit Over Fannie Program
• CFPB Extends Comment Period For Finance Charge Proposal
• A CFPB Report Card For Education Finance: Part 3