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Search Results for: sub-prime

Federal court rejects Visa and Mastercard class action settlements

June 30, 2016 10:29:12 PM

In a unanimous ruling on Thursday, the US Court of Appeals for the Second Circuit rejected a settlement agreement between retailers and credit card issuers. Millions of retailers had reached a $7.25 billion antitrust settlement [NYT...

June 16, 2015 08:53:37 AM

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...

March 23, 2015 12:40:41 PM

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...

March 14, 2015 05:00:00 PM

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...

February 11, 2015 12:42:15 PM

Amnesty International (AI) on Wednesday criticized the EU's failure to prevent migrant casualties at sea. The statement comes amid reports that as many as 300 migrants may have died off the coast of the Italian...

July 31, 2014 07:58:34 AM

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...

May 5, 2014 01:54:14 PM

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...

April 11, 2014 12:07:31 PM

Judge William Pauley of the US District Court for the Southern District of New York dismissed a class action lawsuit on Thursday against American Express, Citigroup and Discover Financial Services that alleged the...

March 7, 2014 09:53:14 AM

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...

February 26, 2014 07:17:34 AM

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...

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THIS DAY @ LAW

Congress passed Roosevelt's New Deal legislation

On June 16, 1935, Congress passed President Roosevelt's "New Deal" legislation to start a recovery program from Great Depression. Learn more about FDR and the New Deal from the US Library of Congress.

U.K. repeals prohibition on non-conformists at its universities

On June 16, 1871, the United Kingdom passed the University Tests Act, repealing a prohibition on non-conformists at the British Universities of Oxford, Cambridge and Durham. The Tests Acts were a series of laws that started in 1673 and eventually required officeholders, university students, civil servants and other persons associated with the government to swear allegiance to the Anglican Church. The Tests Act was repealed by the Catholic Relief Act of 1829, but the university policy lasted until 1871.