From the category archives:

Banking

TweetJPMorgan Chase Bank N.A. has agreed to pay $ 100 million and to cease and desist in the violation of provisions of the Commodity Exchange Act (CEA) for its role in manipulating a massive credit default swap (In the Matter of JPMorgan Chase Bank N.A., No. 14-01, CFTC). Under the terms of the settlement, in […]

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TweetThe representatives of a class of customers who sued MF Global Inc. (MFGI), an affiliate of bankrupt MF Global Holdings Ltd. (MFGH), on Oct. 11 filed a brief arguing that the “soft cap” the bankruptcy court imposed on expenses should not be lifted to permit the payment of defense costs (In Re: MF Global Holdings […]

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TweetThe federal government on Sept. 30 filed in Virginia federal court a complaint and settlement agreement in which Chevy Chase Bank F.S.B. agreed to pay $ 2.85 million to resolve claims that it engaged in a pattern of discriminating against qualified African-American and Hispanic borrowers when providing them with mortgage loans between 2006 and 2009 […]

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TweetA federal judge in Georgia on Sept. 20 awarded summary judgment to Wells Fargo Bank N.A. and the Federal Home Loan Mortgage Corp. (Freddie Mac) after finding that the lender never promised a couple that it would suspend foreclosure proceedings while their loan modification application was being considered (Marla Gould Holcomb, et al. v. Wells […]

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TweetA federal judge in Michigan on Sept. 5 granted preliminary approval of a $ 2 million settlement that would end consolidated class action suits against Citizens Bank and Citizens Republic Bancorp Inc. (collectively, Citizens Bank) alleging that the banks reordered customers’ debit and credit card transactions to maximize overdraft fees (Jane Simpson v. Citizens Bank, […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. A bank and its shareholder on May 7 announced that they have filed an arbitration claim against Greece in the International Centre for Settlement of Investment Disputes (ICSID) in relation to Greece’s sovereign debt restructure. Postova banka, a.s., a Slovak bank, and its shareholder Istrokapital SE said in […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. A federal judge in Florida on April 5 dismissed aiding and abetting claims the receiver of imprisoned Ponzi schemer Arthur Nadel brought against Wells Fargo Bank NA and Wachovia Bank NA, finding that the receiver has not shown enough proof that Wachovia knew about Nadel”s fraudulent transactions (Burton […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. The federal bankruptcy judge presiding over the Chapter 11 bankruptcy proceeding of AMR Corp., the parent company of American Airlines Inc., on Jan. 17 approved $ 1.5 billion in additional financing for the airline, overruling the objections of the indenture trustee (In Re: AMR Corporation, No. 11-15463, Chapter […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. The brother of convicted Ponzi scheme mastermind Bernard L. Madoff was sentenced to 10 years in prison on Dec. 20 for his role in the scheme, according to a press release issued by U.S. Attorney for the Southern District of New York Preet Bharara (USA v. Peter Madoff, […]

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Tweet- From LexisNexis® Mealey’s™ Daily Legal News. Former IndyMac FSB CEO Michael Perry on Dec. 14 agreed to a $ 12 million settlement to resolve the Federal Deposit Insurance Corp.’s $ 600 million suit over his alleged role in the bank’s failure, according to a stipulation of dismissal with prejudice filed in a California federal […]

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