The US Court of Federal Claims ruled Monday that the Federal Reserve bailout of AIG in 2008 exceeded its authority but did not award any damages. The suit was brought by...
Search Results for: mortgage fraud
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JURIST Guest Columnist Harrison Thorne of UCLA School of Law discusses the role of bankruptcy courts in equity... Bankruptcy law, embodied in Title 11 of the United States Code (also known as "the Bankruptcy Code"), strives to balance the rights...
AIG to pay nearly $1 billion to shareholders in class-action settlement
A judge for the US District Court for the Southern District of New York gave final approval Friday to a $970.5 million settlement for shareholders of the insurance giant American International Group (AIG) to settle claims [NYT...
DOJ criticizes new white collar crime sentencing recommondations
The US Department of Justice (DOJ) on Thursday criticized the US Sentencing Commission after a federal panel introduced a proposal which would reduce prison time for white-collar criminals. The DOJ objected to the panel's ideas...
Federal appeals court revives whistleblower lawsuit against JPMorgan
The US Court of Appeals for the Second Circuit on Thursday revived a whistleblower's lawsuit against JPMorgan Chase & Co. . In a unanimous decision, the court vacated and remanded a lower court's grant...
The US Department of Justice (DOJ) on Thursday announced a $16.65 billion settlement with Bank of America (BOA) to settle claims that it sold precarious mortgage-backed securities to investors. Of the $16.65 billion,...
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 ...
Credit Suisse pleads guilty to criminal charge in DOJ tax investigation
Swiss bank Credit Suisse pleaded guilty Monday to a criminal charge for its role in helping Americans avoid taxes, according to a speech from US Attorney General Eric Holder . Credit Suisse will pay a...
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,...
