The U.S. Department of Justice has asked Credit Suisse to pay between $5 billion and $7 billion to settle a probe over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, a source with knowledge …
Oklahoma’s attorney general delivered $20,000 to a Tulsa couple on Oct. 15, the first of hundreds of mortgage settlement checks to be given to homeowners who were victims of wrongful lending practices and in some cases lost their homes. “It …
In a rare instance of law firms compensating investors burned in the mortgage meltdown, Greenberg Traurig and Quarles & Brady moved closer on Wednesday to settling a class action that accused them of participating in a $900 million Ponzi scheme. …
An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used statute that may make such cases easier to bring, according to people familiar with the matter. The federal statute, FIRREA, was …
Bank of America Corp.’s legal losses could cost as much as $2.3 billion above money already set aside to cover litigation, the largest U.S. bank by assets said in a securities filing. BofA raised the possible legal loss estimate by …
Michael Lewis, best-selling author of “The Big Short” about the mortgage meltdown, has been sued for defamation by an asset manager featured in the book. Other targets in the lawsuit are Lewis’ publisher and prominent hedge fund manager Steven Eisman …
