Supreme Court rules mortgage fraudster required to repay loan amount
The US Supreme Court ruled unanimously Monday in Robers v. United States that the Mandatory Victims Restitution Act (MVRA) requires restitution calculation based upon the property a lender loses, not upon the collateral...
The US Court of Appeals for the Second Circuit on Tuesday affirmed the insider trading conviction of former Goldman Sachs director Rajat Gupta. Judge Amalya Kearse rejected Gupta's claim that wiretap evidence should...
An Italian appeals court overturned the fraud oversight convictions of several banks on Friday. A lower court ruled that JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Depfa Bank Plc forced the city of Milan to enter...
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...
JPMorgan Chase & Co. Settlements with the US Department of Justice The US Department of Justice announced on November 19, 2013 that JPMorgan Chase & Co. had agreed to a record-setting $13 billion settlement over its risky mortgage practices that...
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...
Non-profit group Better Markets sues DOJ over JPMorgan settlement
The non-profit financial reform advocacy group Better Markets filed a lawsuit on Monday against the US Department of Justice (DOJ) to block JPMorgan Chase & Co.'s (JPM) $13 billion settlement that resolved federal and...
JPMorgan Chase & Co. (JPM) will pay the US government $614 million and improve company mortgage lending practices under a settlement announced Tuesday for claims it approved thousands of unqualified home mortgage loans for government insurance since...
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 appeals court upholds dismissal of lawsuit against Merrill Lynch
The US Court of Appeals for the Second Circuit on Thursday upheld the dismissal of a lawsuit brought by South Korea's Woori Bank against Bark of America's Merrill Lynch unit. The lawsuit, which...
