January 16, 2014
The Federal Deposit Insurance Corporation on Wednesday said it will appeal to the Ninth Circuit Bank of America Corp.'s $500 million settlement of class actions over Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities.
December 09, 2013
A California federal judge gave final approval Friday to a $500 million settlement of three class actions challenging Bank of America Corp.-owned Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities, including $85 million in fees to the plaintiffs' attorneys.
October 28, 2013
A California federal judge on Monday tentatively gave approval to Bank of America Corp. unit Countrywide's $500 million settlement of three class actions related to mortgage-backed securities, overruling the Federal Deposit Insurance Corp.'s objections that the deal was not fair to all class members.
October 08, 2013
The Federal Deposit Insurance Corp. told a California federal court Monday that Bank of America Corp.'s $500 million settlement in a suit over its underwriting standards for mortgage-backed securities should be thrown out because the proposed class representatives have a conflict of interest.
August 01, 2013
A California federal judge said Thursday she will preliminarily approve a $500 million settlement of three putative class actions challenging Bank of America Corp.-owned Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities, noting new details allayed her concerns about how the settlement will be divided.
July 10, 2013
A California federal judge Wednesday refused to give preliminary approval to a $500 million settlement of three putative class actions challenging Countrywide Financial Corp.'s underwriting standards for mortgage-backed securities, saying she needed more information on how the settlement would be divided among investors.
November 22, 2011
A California federal judge on Monday certified a class in a suit alleging Countrywide Financial Corp. misled investors when they purchased eight groups of mortgage-backed securities worth about $2.46 billion.
September 15, 2011
A California federal judge on Tuesday denied Countrywide Financial Corp.'s bid to toss part of a class action by mortgage-backed securities purchasers who say Countrywide defrauded them through nine separate offerings collectively sold for $2.6 billion.
April 22, 2011
A California federal judge on Wednesday dismissed all claims against Bank of America Corp. in a proposed class action that sought to hold the bank liable for the allegedly deceptive lending practices of former BofA unit Countrywide Financial Corp.
February 17, 2011
Three former Countrywide Financial Corp. executives have exited a putative securities class action that accuses the former Bank of America Corp. unit and others of lying about lending practices in connection with some $352 billion in mortgage-backed securities.