Supreme Court hears argument on scope of federal fair housing act; Fannie Mae
The US Supreme Court on Tuesday heard argument in the cases of Bank of America Corp. v. City of Miami and Lightfoot v. Cendant Mortgage Co. . Believing cyclical poverty in Miami is...
JURIST Guest Columnist Joseph H. Marren discusses the impeachment of Brazil's President... On August 30 Brazil's Senate voted to convict Brazil's President Dilma Rousseff on charges that she used improper accounting to cover-up a growing budget deficit and illegal loans...
On Tuesday the Supreme Court of the United States granted certiorari for eight new cases. In Lightfoot v. Cendant Mortgage Company , the Court is asked to determine whether the “sue or be sued” provision of...
Federal appeals court rules Bank of America not liable for fraud
The US Court of Appeals for the Second Circuit on Monday overturned a 2013 jury verdict that found Bank of America liable for fraud and imposed a penalty of more than $1.2 billion. The Second Circuit...
A federal judge on Wednesday imposed a $1.27 billion penalty on Bank of America after a jury found them liable for mortgage fraud. Judge Jed Rakoff for the US District Court for the...
Citigroup, Inc. on Monday agreed to pay $7 billion to settle a federal inquiry into mortgage-backed securities sold by the bank prior to the country's financial crisis. The deal, which involves one of the largest cash penalties ...
US Attorney General Eric Holder said on Monday that the Department of Justice (DOJ) is in the process of investigating several financial institutions and criminal charges may follow. In the video released by the DOJ,...
The ongoing saga of major bank settlements with the Department of Justice, Fannie Mae and Freddie Mac is mostly the result of the economic crisis of 2007-2008. Prior to this time, Bank of America and JPMorgan Chase & Co. sold...
New York judge approves Bank of America settlement over mortgage-backed securities
A New York state judge on Friday approved an $8.5 billion settlement between Bank of America (BOA) and almost two dozen mortgage securities investors, holding that the 2011 agreement was reached in good faith. In a 54-page...
Federal judge: US should get mortgage firm data for banking probe
A federal judge on Monday recommended that e-mails and other data collected by a large due-diligence firm for Wall Street banks should be turned over to the Department of Justice (DOJ) , a move that may determine which...
