Banking Archive » February, 2013

Banking - February, 2013

337 articles

• NY Probing BofA Over Mortgage Securities
• CFPB Casts Wide Net In Enforcement Shift
• Ex-BofA Exec Says She's Scapegoat In $1B Fraud Suit
• SEC Says It Can Bring Suit Over Falcone's 'Spiteful' Trades
• JPMorgan Sanctioned For Destroying Docs In Sex Bias Suit
• JPMorgan Slams Lehman Request To Depose 'London Whale'
• BofA Unit Dodges Call Recording Class Action
• 13 Banks Finalize $9B Foreclosure Relief Package
• EU Caps Banker Bonuses, Ups Bank Capital Minimums
• JPMorgan Can't Dodge Suit Over Alleged RMBS Misconduct
• First Horizon Can't Dodge Reinsurance Kickback Suit
• CFTC Chief Calls For Industry Cooperation On Libor Reform
• The Most Unlikely Financial Crisis Fall Guy
• 6 Areas Often Underestimated In Law Firm Mergers
• Guggenheim Probed For Ties To Banned Junk Bond King
• 2nd Circ. Revives UBS Retirement Fund Suit
• Chevron Can Subpoena Bank In $19B Ecuador Pollution Saga
• TD Bank Strikes $41M Deal To End Rothstein Fraud Claims
• Argentina Tells 2nd Circ. It May Defy Order In $1.4B Bond Row
• High Court Ruling Puts SEC Actions On Strict Timetable
• Miami Condo Project's $160M Loan Sparks Cautious Optimism
• Justices Question Merchants' Logic In AmEx Antitrust Case
• Senate Confirms Jack Lew As Treasury Secretary
• Asset Sale Doesn't Kill FDIC's Receiver Powers, 8th Circ. Says
• Lack of CFTC Funds Hampers Enforcement, Gensler Says
• Ex-Dewey Partner Says Citibank Covered Up Firm's Finances
• 6th Circ. Backs Johnston Barton Win In Broker's Suit
• Fight Over Chicago's $563M Garage Lease To Move Ahead
• Man Group Employee Among 3 Arrested In Insider Tips Probe
• Employers Ask Supreme Court To Find DOMA Unconstitutional
• SEC Watchdog Sues Feds Over Volcker Rule Delay
• Barclays Docs Blast FERC Subpoena In $470M Energy Probe
• BNY Mellon Sells UK Client Biz In $127M Standard Life Deal
• Bernanke Says 'Too Big To Fail' No Longer Exists
• HSBC Says Its Overdraft Fee Policy Is Transparent
• Gabelli Could Kickstart The 'Civil' Prosecution Debate
• Credit Suisse RMBS Fraud Suit Sent To State Court
• SEC Gets No Extra Time For Fraud Suits, Supreme Court Rules
• Citigroup Balks At $6M In Fees For Nixed Exec Pay Suit
• AIG's Suit Against NY Fed Temporarily Halted
• Old Second Strikes $7.5M Deal In Pension Investment Suit
• FINRA To Renew Fight Against Schwab's Class Action Waiver
• AmEx Opens Door For Justices To Build On Concepcion
• Libor Should Be Based On Real Transactions, Gensler Says
• High Court Ruling May Curb Debt Collection Lawsuits
• BNY Mellon Says It Can't Be Blamed For Fund's Madoff Losses
• Feinstein Campaign Sues DOJ To Get Embezzlement Evidence
• FSOC Pressures SEC, But All's Fair In Love And Regulation
• NY AG Cites New Analysis In Bid To Revive Schwab ARS Suit
• Currency Comptroller Defends Settlements With Banks
• 6th Circ. Reverses Approval of Encore Unit's $5M FDCPA Deal
• The Next Big Thing In Securities Litigation
• Lawmaker Blasts TARP Paymaster Over Exec Pay Packages
• 7th Circ. Told Chubb Owes Bank Coverage For Embezzlement
• Housekeeping: Inside CFPB's Qualified Mortgage Rule
• PE Takes $138M Bite Of Chicago's Standard Bank
• Debt Collectors Can Recoup Costs Despite Law: High Court
• Senate Panel Backs Lew's Nomination For Treasury Secretary
• Senate Eyes March For SEC Chairman Confirmation Hearing
• Shine Might Be Off Alt Fee Arrangements, GC Survey Shows
• GCs Brace For More Whistleblower Suits
• In-House Teams Expand To Keep Pace With More Suits, Probes
• GCs Rate Fixed Fees Best Bang For Their Buck
• Gupta Ordered To Repay Goldman $6.2M In Legal Fees
• Wells Fargo Hit With Mortgage Penalties Class Action
• CFPB Pick's Approval Will Require Compromise, Sen. Says
• Common Insurance Problems For Foreclosing Mortgagees
• Investors Win Class Cert. In Madoff Feeder Fund Action
• US Slams States' Dodd-Frank Challenge
• Trustee Banks To Face Jury In $600M Funeral Scam Case
• JPMorgan M&A Exec Named Cadwalader Vice Chairman
• Thornburg, BofA Settlement Should Be Public: US Trustee
• Supreme Court Won't Mull Corporate Campaign Donation Ban
• British Bankers Group Agrees To Give Up Libor-Setting Duties
• Morgan Stanley Whistleblower Also Targets FINRA In New Suit
• Dodd-Frank May Weaken SEC Power, Commissioner Says
• EU Watchdog To Drop E-Payments Antitrust Probe
• New Citigroup Pay Plan May Not Soothe Shareholder Ire
• AMR Will Take US Bank's $1.5B Financing Row To 2nd Circ.
• US Eases Sanctions On 4 Myanmar Banks
• SEC Commissioner Advocates Exchange 'Kill Switch'
• Schwab Wins One For The Broker, Threatening Class Actions
• Calif. County Urges New Municipality Class In Libor MDL
• Libor Manipulation Probes A Priority, EU Watchdog Says
• Castleton Ruling Fortifies 7th Circ. Pro-Creditor Trend
• JPMorgan OT Arbitration Not Barred By NLRB's DR Horton
• UBS Denies It Tanked MBS To Cause $331M In Losses
• Fed Extends Comments For Dodd-Frank Foreign Bank Rule
• JPMorgan Unit's Emails Not Privileged, FERC Tells DC Circ.
• Grocers Oppose $7B Visa, MasterCard Swipe Fee Settlement
• BNY Mellon To Pay MedCap Investors $114M Over Ponzi Plot
• Plumbing The Murky Depths Of Chinese State Secrecy Law
• Schwab Can Force Clients To Arbitrate, FINRA Panel Rules
• Banks Fear CFPB Rule Could Spur Fair Lending Fights
• Goldman Tells SEC It Lacks Info On Accused Heinz Trader
• Del. Real Estate Developer Pleads Not Guilty To Bank Fraud
• Ex-Eagles QB's Ponzi Suit Intercepted By Arbitration Clause
• Wells Fargo Must Face More Fannie Investor Claims: 2nd Circ.
• Troutman Boosts Banking Ranks With 2 Ex-Kilpatrick Attys
• Cellular South Asks 2nd Circ. To Revive $26M ARS Suit
• Crestview Spends $246M For KeyCorp Asset Manager
• Banks Provided $46B In Mortgage Aid, But Complaints Surge
• Fast-Tracking Abandoned Residence Foreclosures In Ill.
• Judge Won't Nix Charges Against Atty In Racketeering Case
• DOL Blasts Bankers' Precedent In Loan Officer OT Row
• Bond Seller Tied To $52M Ponzi Scheme Enters Plea Deal
• 11th Circ. Backs BofA In Fight Over $1B Vegas Hotel Funding
• Alleged Tax Evaders Can't Duck Bank Account Subpoenas
• Credit Unions Knew RMBS Risks, JPMorgan Says
• Fannie, Freddie Knew Of Risks In $27M MBS Buy: Countrywide
• House Lawmakers Say Basel Rules Could Shutter Small Banks
• ResCap Fights To Subordinate Insurers' Securities Claims
• JPMorgan Investors Seek To Split Dimon's Roles
• Merrill Lynch Dodges Class Cert. In Call-Recording Suit
• Swapping Safely: DOL's Take On Swaps And ERISA Plans
• Ex-Dewey Partner Sues Barclays Over Firm Capital Loan
• Capital One Sells Best Buy Card Portfolio To Citi In $7B Deal
• CARD Act Drove Up Interest Rates, Bank Group Says
• Fla. City Immune From Suit Over Real Estate Loan Default
• Rothstein Investor Wants TD Bank Suit Back In Fla. Court
• MF Global Cleared To Collect Votes For Liquidation Plan
• Britain, India Join Forces To Battle Cybercrime
• SEC Eyes Push For Mandatory Market Technology Rules
• ResCap Sets Aside $12.3M For Ambac's Sale Challenge
• House Dem Questions Fed, OCC On $9.3B Foreclosure Deals
• House Bill Would Extend JOBS Act Benefits To Thrifts
• A Snapshot Of 2012 SEC And FINRA Enforcement
• Willkie Made Client Scapegoat In FINRA Probe, Suit Says
• EU Steps Up Sanctions On North Korea After Nuclear Test
• Wells Fargo Breached Trustee Duties, MedCap Investors Say
• HSBC Sells Panama Unit For $2.1B In Latin America Shakeup
• Lloyds Penalized $7M For Slow Insurance Redress Payments
• Japan's Orix Offers $2.6B For Rabobank Asset Manager
• Kaye Scholer Settles GSC Ethics Row For $1.5M
• Revival Of BofA Seating Suit A Pain In Butt For Cos.
• CFPB Exams Are Plaguing Banks, US Chamber Says
• Mass. Borrowers Can Challenge Mortgage Transfers: 1st Circ.
• Merrill Lynch To Pay $12M To Settle OT Suit
• Santander Unit Accused Of Secretly Recording Phone Calls
• Sens. Seek Review Of Consumer Credit Reporting
• AMR Looks To Take US Bank Fight Straight To 2nd Circ.
• Dodd-Frank Rules May Force Banks To Shed Energy Units
• Lehman Sues Spanish Broadcasting Over $29M In Dividends
• Conspiracy Claims Nixed In Wells Fargo Kickback Actions
• EU Will Retaliate If Fed Tightens Foreign Bank Rules
• GCs Name 43 Best-Of-The-Best Attys
• Syncora Insists Federal, State JPMorgan MBS Suits Different
• NBA Star Breached Contract, Financial Adviser Tells 7th Circ.
• CORRECTED: SNR Denton Not Liable For Filing Error In $7M Citigroup Deal
• Leveraged ETFs: A Dangerous Trap For Desperate Investors
• GCs Name Cream Of The Crop Litigators
• What Obama's Cybersecurity Plan Means For Your Company
• Struggling Gleacher Finds Buyer For Mortgage Loan Biz
• Koch Unit, MF Global Trustee Drop Fight Over $20M Claim
• Lehman Seeks To Reel 'London Whale' Into JPMorgan Fight
• Rakoff Departs From Katz Ruling In $2B Madoff Fight
• SEC Can't Block Discovery In Suit Over $7B Stanford Fraud
• UBS Not Liable For Terror Attacks, 2nd Circ. Rules
• Cybersecurity Bill's Author Says Privacy Fears 'Unfounded'
• Swiss Banks To Disclose Info On US Citizens' Accounts
• Final Volcker Rule Will Be Simplified, Lawmakers Hear
• US Bank's $100M Suit Over Extended Stay Loan Revived
• MetLife's Bid To Deregister As Bank Gets Green Light
• 2nd Circ. Revives Suit Over $307M Ness Sale
• SEC Should Act On Credit-Rating Violations, Sens. Say
• Senate Dems Vow To Keep Cordray At Helm Of CFPB
• Delta, Others Sue Ex-Im Bank Over Aircraft Export Financing
• Ex-Stanford Execs Get 20 Years For Roles In $7B Scheme
• An Information Security Preparedness Checklist
• Private Sector To Push For Leeway In Cybersecurity Standards
• FHA Can Avoid Gov't Bailout, Commissioner Testifies
• Obama's Housing Hopes Might Be Too High
• Fla. High Court Leaves Robosigning Crisis Up In The Air
• Mortgage Co. Execs Sued Over Robosigning Defense Fees
• Credit Suisse Fires Back At Union Central MBS Fraud Suit
• 9th Circ. Revives BofA Tellers' Seating Class Action
• Visa, MasterCard Beat ATM Price-Fixing Actions
• Texas, 7 Other States Join Challenge To Dodd-Frank
• Real Estate Mogul Sues Banks For $100M Over Libor-Rigging
• Euronet Says Rival Payment Service's Claims Preempted
• Barclays Owes Ex-Lehman Director $20M, 2nd Circ. Hears
• Cadwalader Settles $1.6M Claim In Ocala Bankruptcy
• Chase Customers Sue Over Failed Same-Day Card Payments
• CFPB Vows To Help Lenders Understand New Mortgage Rules
• Blackstone Bags Ex-Barclays Alternative Asset Head
• Bank Blames Union For Lack Of $5M Fee In US Airways Deal
• Treasury Nominee Lew Says Dodd-Frank Would Be Priority
• Mortgage Officers Get Class Cert. In PNC Bank OT Suit
• Santander, Others Face UK Probe Over Investment Advice
• Fifth Third Bank Hit With Excessive Interest Class Action
• Obama Order Tackles Mounting Cybersecurity Threats
• FATCA Insight: Grappling With Cross-Border Payments
• A Potentially Superior Way To Secure Lease Obligations
• First Citizens Hit With $125M Claim In Window Co. Bankruptcy
• $25B Foreclosure Deal Can't Save Wells Fargo From FCA Suit
• Lehman Nets $800M In NYC Office Building Sale
• Banks Fear Liability From Obama Cybersecurity Plan
• FNB To Pay $3M In Overdraft Fee Class Action Settlement
• Junior Lienholders And Cross-Collateralized Loans
• Bird Marella Picks Up Ex-Prosecutor For White Collar Team
• Ex-RI Mayor Gets 2 Years For Contract-Bidding Scheme
• MF Global Ch. 11 Objections Premature, Plan Proponents Say
• Mass. Regulator Urges SEC To Ban Forced Arbitrations
• Fannie, Freddie Escape Fla. County's Excise Tax Suit
• Senate Banking Panel Open To Dodd-Frank Changes
• UBS Can't Duck FINRA Arbitration Over $125M ARS
• RE Investor Told To Produce Atty Emails In Fraud Suit
• FDIC Aims To Nix Coverage For US Banks' Foreign Deposits
• Fannie Mae Force-Placed Insurance Plan Hits Roadblock
• JPMorgan Smeared Ex-Adviser To Clients, $3M Suit Says
• UBS Fined $15M For Shoddy AIG Fund Sales
• S&P Skewers DOJ Suit But Hints At Settlement Talks
• ResCap Wants Stroock Partner For Chief Restructuring Role
• BNY Mellon Faces $850M Charge Over Tax Scheme
• CFPB Puts Mortgage Servicers On Notice Over Doc Handling
• HUD Housing Bias Rule Aimed At High Court, Not Lenders
• Bankers Urge DC Circ. To Reverse Loan Officers' OT Eligibility
• Don't Knock SEC's Revolving Door, Experts Say
• Credit Card Late Fees Violate Constitution, 9th Circ. Hears
• Law360 Banking Editorial Advisory Board
• Banks Ask 5th Circ. To Revive Heartland Data Breach Claims
• GOP-Backed Bill Would Force Big Banks To Raise More Capital
• With No New Offers, $665M Carlyle Bid Wins Duff & Phelps
• Incapital Hits Ex-Execs, BNY Mellon With Trade Secrets Suit
• Calif.'s S&P Suit Heralds Bold False Claims Push
• SEC Chair Nominee Pledges To Avoid Conflicts Of Interest
• Argentine Firm Loses Bid For Cut Of $410M BofA Deal
• No Space For Partner Egos In Law Firm Of The Future
• Arcapita Files Reorganization Plan With $185M Exit Financing
• Ex-Im Bank, ICICI To Pump $500M Into Indian Projects
• French Rail Project Draws $267M Loan For Upgrades
• Conn. Cities Win Class Cert. In Fannie, Freddie Tax Row
• HUD Adopts Disparate Impact Rule To Clarify Fair Lending Law
• JBIC Loans $3B To Buoy UAE-Owned Oil Co. Upstream Growth
• Cousins Pays $233M For Houston Office Complex
• Presidio Bid To Escape IP Suit Waste Of Time, Judge Says
• NJ Attys Admit Improper IRS Reporting Of Client Fees
• Wells Fargo Puts Up $13M To End Reinsurance Kickback Suit
• 2nd Circ. Judge Grills Rakoff Atty Over Rejected Citi Deal
• Energy, Tech Firms Buy Time On EU Derivative Rules
• Banks May Be Forced To Submit Costs For Libor's EU Cousin
• $13M Settlement Beats Out Rival Plan In Del. Fund Case
• Kaye Scholer Can't Keep GSC Fees After Missteps: Trustee
• SunTrust Sues To Block FINRA Arbitration In MBS Row
• Testy Judge Gives $8.5B BofA Deal Dissenters More Docs
• Assured's MBS Win May Force Wave Of Bank Settlements
• 7th Circ. Thrashes 'Tax Cheats' Who Brought UBS Fraud Suit
• Morgan Stanley Workers Win Cert. In OT Collective Action
• BNY Defends $18B Debt Addition In Suit Over Basell Deal
• OCC's Latest Hire Shows Push For Fair-Lending Crackdown
• S&P Taps White Collar Heavy Hitter To Fight DOJ Suit
• Bank's Licensing Claim Doesn't Nix Antitrust Fine: EU Court
• Calif. City Can't Use Debt Cap To Dodge Suit Over $35M Deal
• Merrill Lynch, BofA Escape $143M CDO Fraud Suit
• ResCap Examiner's Prebankruptcy Report Delayed Again
• JPMorgan Hid Bad Loan Reports In RMBS Sales, Dexia Says
• Stalemate Continues Over Millions Owed To Robbins Geller
• Hedge Fund Managers Charged In $311M Fraud Scheme
• EU Plan Forces More Cos. To Reveal Data Breaches
• What You Should Know About The New Trade Secrets Laws
• Iranian Bank Beats EU Nuke Sanctions In Court
• House Dems Push Obama To Replace FHFA Chief
• EU Rule Would Require Cos. To Report Data Breaches
• S&P Credit Ratings Are Protected Speech, Suit Says
• Commonwealth Investor Suit Says Execs Hid Financial Woes
• FHA Needs Overhaul To Stave Off Bailout, Congress Hears
• Assured's $90M Win Gives Insurers Ammo Against Banks
• Rothstein Trustee's Ch. 11 Plan Hangs On $72M TD Bank Deal
• Libor Prosecutors In Control As Holdout Banks Squirm
• YPF Accused Of Keeping Quiet On Nationalization Risk
• Wells Fargo Slams Lax FLSA Class Standards In 5th Circ.
• King & Spalding Snags Paul Hastings Finance Duo
• Lenders Have No Say In Eminent Domain Cases, NJ Court Says
• DR Horton Doesn't Apply In JPMorgan Wage Action: Judge
• $24B Dell Deal Heeds Del Monte Lesson On Banker Conflict
• Bank Execs Win D&O Coverage For $7M FDIC Suit
• Linklaters Hires Asia M&A Pro From White & Case
• Former Sen. Hutchison Joins Bracewell As Senior Counsel
• Banks Aren't Cops, Peregrine Judge Told
• Banks Face Stiff Sanctions Under EU Money Laundering Rule
• Illinois Hops On Springing Guaranty Bandwagon
• RBS To Pay $612M Over Libor Manipulation
• Merrill Lynch Loses Challenge To Funds' $64M Fraud Award
• 3rd Circ. Clarifies Time Limit On Mortgage Rescission Suits
• 10th Circ. Says FSIA Protects Bank In Botched $50M Deal
• Global Payments Data Theft Suit Should Be Nixed, Judge Says
• Plaintiffs' Attorneys Double Down In Wake Of S&P Suit
• DOJ's S&P Case Gives New Life To Mortgage Meltdown Cases
• S&P Fixes For 1st Amendment Fight With Cahill Gordon Hire
• Banks Want More Risk Transparency At Clearinghouses
• Crowell, Proskauer, Fulbright Sanctioned For Counterclaims
• Assured Wins $1B MBS Contract Suit Against Flagstar
• Class Cert. Rejected in Chase Flood Insurance Kickback Suit
• Weil Gotshal Wins Banking Partner Back From Goldman Sachs
• D&O Coverage Excluded In $11M FDIC Suit, Progressive Says
• FHA Reduces Single-Family Mortgage Insurance Requirements
• Ally CEO Threatens To Withdraw $750M ResCap Creditor Deal
• Alston Hires DOJ Vet To Defend Securities, FCPA Cases
• African Minerals Lands $350M Financing For Iron Ore Project
• 1st Circ. Revives Investors' Feraheme Risks Class Action
• Feds Charge 18 People In $200M Credit Card Scam
• US Sues S&P For Inflated RMBS Ratings That Fueled Crisis
• 'Fast And Furious' DOJ Atty Returns To King & Spalding
• Know The Standard Of FDIC Liability For Community Banks
• Credit Suisse Unit Faces Contract Suit Over $1B Loan Pool
• BNY Asks 2nd Circ. To Let It Take Payments From Argentina
• EU Lawmaker Panel Shoots Down OTC Derivatives Rules
• Bold DOJ Goes All-In With Suit Over S&P Ratings
• 7th Circ. Backs FDIC Win In Failed Bank Exec's $30M Suit
• JPMorgan Asks 6th Circ. To Back Class Waiver In Antitrust Suit
• Goldman Execs Hid 'Structured Exits' Scheme, Investor Says
• US Says Starr Can't Rep 2 Classes In AIG Bailout Suit
• AmEx Beats Subpoena Over $7B Interchange Antitrust Deal
• GOP Senators Push To End Fed's Dual Mandate
• Moody's Says Jefferies 'Excessive' CEO Pay A Credit Risk
• BofA Board Dodges Investor Suit Over Foreclosure Practices
• Visa Faces Aussie Watchdog's Antitrust Suit
• $8.5B BofA Mortgage Pact Hid Self-Dealing, Investors Say
• DOJ Will Sue S&P Over Crisis-Era Ratings
• 4th Circ. Clears SunTrust's $40M Win In Loan Coverage Suit
• SEC Pick May Face Questions Over 'Troubling' Defense Work
• Insurers Cry Foul Over $8.7B ResCap MBS Settlement
• UK To Give Regulators Power To Break Up Banks
• Protecting Attorney-Client Privilege: Learn From Halifax
• 10 Insights Into FINRA Dispute Resolution
• How 1st Circ. Infused Del. Law Decision With Realism
• HSBC Gets China's OK To Sell Off $7.4B Ping An Stake
• Ex-Integra Exec Can't Veil Tax Docs In Ponzi Coverage Row
• Insurer Can't Fight Dismissal Of MBS Claims Against BofA
• Banks Likely To Adopt CFPB Rules While Legal Issues Unfold
• MetLife Inks $2B Deal For BBVA's Chilean Pension Business
• Calif. Court Nixes Schools' Bid To Recoup Lehman Losses
• FINRA Panel Awards US Airways $30M In ARS Dispute
• Dutch Gov't Nationalizes Financial Co. With $5B Package
• GOP Sen. Pushes Bill To Put Commission Atop CFPB
• Chadbourne, Proskauer Targeted Over $7B Stanford Fraud
• Chase, Debt Collectors Hit With False Debt Class Action