US appeals court revives FDIC suit against banks over mortgage-backed securities sales
The 2nd U.S. Circuit Court of Appeals in New York on Wednesday revived a lawsuit that stems from the 2008 financial crisis. The Federal Deposit Insurance Corp (FDIC) brought suit in 2012 against five...
US Department of Justice files civil suit against Barclays Bank
On Thursday, the US Department of Justice (DOJ) filed a civil suit against Barclays Bank and two former executives for the fraudulent sales of residential mortgage-backed securities (RMBS) from 2005 to 2007....
Hedge fund firm Och-Ziff to pay $412 million in criminal penalty and damages
Hedge fund manager Och-Ziff Capital Management Group LLC (Och-Ziff) has agreed to pay a $412 million settlement, of which up to $213 million are criminal penalties imposed in connection with a widespread scheme involving the...
Consumer protection agency fines Wells Fargo US $100 million
The Consumer Financial Protection Bureau (CFPB) , a federal agency entrusted with consumer protection in the financial sector, announced on Thursday a $100 million fine against banking giant Wells Fargo for widespread illegal sales practices....
Texas court grants stay of execution for man who did not commit murder
The Texas Court of Criminal Appeals granted a stay of execution on Friday for murder accomplice Jeffrey Lee Wood. Wood and Daniel Reneau attempted to rob a gas station in 1996. Wood waited in...
US President Barack Obama signed Senate Bill No. 764 into law on Friday, which requires labeling of genetically modified organisms (GMOs) in food products under a single national standard. The law requires the Department of Agriculture...
In a 63-30 vote, the US Senate approved legislation Thursday requiring food packaging to display genetically-modified organism (GMO) contents using words, pictures or scannable bar codes. If passed in the House , this law would...
South Africa's Parliament on Thursday approved a bill to allow government expropriation of land. The bill will serve to allow a government adjudicator to value a particular piece of land and then expropriate it for...
A federal judge issued a preliminary injunction on Tuesday that halted the enforcement of a provision of Washington, DC's strict gun laws. Judge Richard Leon of the US District Court for the District of Columbia stated...
Environmental groups filed a lawsuit on Thursday against the US Food and Drug Administration (FDA) . The lawsuit challenged the FDA's authority to approve genetically modified animals for use as food. In November the FDA approved [WSJ...
