Bank of America Corp. has agreed to pay $375 million to settle a case brought by bond insurer Syncora Guarantee over toxic mortgage-backed securities at the center of the 2008 financial crisis. Syncora sued Bank of America in 2009 to …
A Kentucky-based bank that lost at least $14 million on mortgage-backed securities failed to read documents associated with the investment and didn’t give enough specifics to sustain claims of fraud against now-defunct investment bank Bear Stearns, a federal appeals court …
Connecticut officials are encouraging other states to consider suing credit-rating agencies that gave high grades to risky mortgage-backed securities that plummeted in value when the housing market collapsed in 2007-2008. Connecticut Attorney General George Jepsen’s office on Wednesday briefed other …
A landmark $25 billion settlement over foreclosure abuses will allow large banks to resolve one piece of their mortgage-related problems. But it still leaves them exposed to a wide range of lawsuits and other claims related to the housing crisis. …
Investors suing Bank of America Corp. won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the 2008 takeover of Merrill Lynch & Co. and the size of Merrill’s losses and bonus payouts. U.S. District Judge …
A federal judge angrily threw out Citigroup Inc.’s proposed $285 million settlement over the sale of toxic mortgage debt, excoriating the top U.S. market regulator over how it reaches corporate fraud settlements. U.S. District Judge Jed Rakoff in Manhattan said …
Investors want to lift the “shroud of secrecy” over the proposed $8.5 billion settlement of Bank of America Corp.’s mortgage-backed securities liability in the coming weeks, a lawyer said last week. Dan Reilly, a Colorado lawyer representing American International Group …
A federal judge rejected American International Group Inc.’s request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp. back to a New York state court, where AIG believed the case belonged. U.S. District Judge Barbara Jones …
JPMorgan Chase & Co. and Bank of America Corp. were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks. The plaintiff Sealink Funding Ltd. said …
By suing 131 individuals in its effort to recover losses on $200 billion of mortgage debt that went sour, the federal agency overseeing mortgage giants Fannie Mae and Freddie Mac is doing one thing that the U.S. government has largely …
