February 26, 2014
by Elizabeth LaForgia
The US Supreme Court heard oral arguments on Tuesday in Robers v. United States. The case addresses the issue of whether a defendant who owes restitution for a fraudulently obtained loan returns a portion of the loan money by giving the lenders the collateral property that secures the money. ...[read more]
February 25, 2014
by G. Redd
Sub-prime loan practices began in the mid-1980s as lawmakers sought to increase housing opportunities. Prior to this, many Americans were unable to purchase a home due to credit scores below 550. Census data compiled by the Federal Reserve shows that over half of the failed mortgage payments were ...[read more]
February 24, 2014
by Neil Devlin
The 2008 financial crisis cost investors, consumers and businesses alike. Sub-prime lending practices devolved into a riskier regime from their time of inception to address disproportionate ratios in racial borrowing power in the 1980s to the housing bubble of the early 2000s. The bubble was ...[read more]
November 5, 2013
by Amy Mathieu
The US Court of Appeals for the Second Circuit on Tuesday upheld the dismissal of shareholders' lawsuit against Freddie Mac alleging the company misled investors by understating its sub-prime mortgage exposure and overstating its capital strength. The US District Court for the Southern District ...[read more]
October 26, 2013
by Julie Deisher-Edwards
The Federal Housing Finance Agency (FHFA), acting in its capacity as conservator for Freddie Mac and Fannie Mae, on Friday announced a $5.1 billion settlement with JPMorgan Chase & Co.. The FHFA alleged that JPMorgan misrepresented the quality of the sub-prime mortgages and mortgage securitie... ...[read more]
October 21, 2013
by Peter Snyder
JPMorgan Chase & Co. may still face potential criminal liability regardless of a tentative $13 billion deal to settle civil disputes resulting from the US government's probe into mortgage-bond sales made by the banking giant and its subsidiaries in the run-up to the sub-prime mortgage crisis, ...[read more]
August 9, 2013
by Julie Deisher-Edwards
JPMorgan Chase & Co. disclosed in its quarterly filing with the Securities and Exchange Commission on Wednesday that it is being investigated by both the civil and criminal divisions of the US Attorney's Office for the Eastern District of California (EDC) over sales of mortgage-backed ...[read more]
August 2, 2013
by G. Redd
A judge for the US District Court for the Southern District of New York on Thursday approved a settlement wherein Citigroup will pay its investors over $590 million for misrepresenting its assets in securities linked to the sub-prime mortgage crisis. The case reached a preliminary settlement in ...[read more]
December 3, 2011
by Cody Harding
On December 3, 2008 the US Securities and Exchange Commission (SEC) approved rule amendments to provide greater oversight and regulation of credit rating agencies. The amendments were passed to strengthen the Credit Rating Agency Reform Act of 2006. The regulations were passed because of the ...[read more]
August 17, 2010
by Sarah Miley
A federal judge on Monday rejected a $75 million settlement reached between Citigroup and the US Securities and Exchange Commission (SEC) last month to resolve charges of misleading investors about Citigroup's exposure to sub-prime mortgage-related assets. Citigroup represented that its sub-prime ...[read more]

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