Citigroup to pay $7 billion to settle U.S. mortgage probeCredit: Reuters/Andrew Kelly 1 of 2. People walk past a Citibank branch in New York October 15, 2013. The settlement, announced on Monday, is more than twice what many analysts expected but less than the $12 billion the government sought in negotiations with Citi C.N, the third largest U.S. bank.

Citigroup may pay $7 billion to resolve U.S. mortgage probes: sourceCredit: Reuters/Mike Segar A Citibank sign on a bank branch in midtown Manhattan, New York, November 17, 2010. A majority of the settlement is expected to be in cash, but the figure also includes several billion dollars in help to struggling borrowers, the source said.

County intends to join lawsuit over recording feesLuzerne County has lost out on millions of dollars in recording fees over the past decade and intends to join a class-action lawsuit targeting the banking industry’s mortgage database, the recorder of deeds said Friday. The class-action lawsuit, which was brought by the Montgomery County recorder of deeds, alleges that MERSCORP Holdings, Inc.

OpEdNews Article: Article: The Looming Foreclosure Crisis: As the Fed Runs Out of Bullets, Local Governments Are Stepping InMortgage debt overhang from the housing bust has meant lack of middle-class spending power and consumer demand, preventing the economy from growing. The problem might be fixed by a new approach from the Fed. But if the Fed won’t act, counties will, as seen in the latest developments on eminent domain and litigation over MERS.

Terry Boyd Has Federal Overtime Case Against Bank of America Certified as a Class ActionA former Ladera Ranch Bank of America appraiser’s lawsuit over overtime pay has been certified as a class-action case by U.S. District Court Judge David O. Carter in Santa Ana, according to an attorney representing the plaintiffs.

Backing Banks Over Borrowers, California Judges Often Big Stakeholders in Same BanksTruthout readers like you made this story possible. Show your support for independent news and make a tax-deductible donation today! Sue your bank in California over a wrongful foreclosure, and the best you’re likely to get – if you have ironclad evidence that it broke the law – is a loan modification.

BlackRock, Pimco sue over billions in mortgage securities lossesThe lawsuits, filed in New York state court, claim the trustees breached their duties to investors by failing to force lenders and sponsors of the securities to repurchase defective loans, the suits claim. The investors are seeking damages for losses that exceed $250 billion and relate to over 2,200 residential mortgage-backed securities trusts issued between 2004 and 2008, according to a person familiar with the cases.

Bank Of America To Face $1 Billion Lawsuit Over MortgagesBank of America Corp ( BAC) will have to face a lawsuit worth $1 billion that originated from Merrill Lynch’s operations back in 2006. A New York appeals court upheld a previous ruling today, calling for the bank to face the lawsuit.

Goldman Wins Dismissal of $450 Million Mortgage-Bond SuitGoldman Sachs Group Inc. won dismissal of a suit over $450 million in residential mortgage-backed securities, with a New York judge saying that the firms that bought the bonds should have done more research beforehand.

U.S. to sue Citigroup over faulty mortgage bonds: sourcesCredit: Reuters/Mike Segar A Citibank sign on a bank branch in midtown Manhattan, New York, November 17, 2010. A lawsuit could be filed in U.S. District Court in Brooklyn as early as next week, the people said, as the bank and civil prosecutors stood far apart in reaching an agreement on the size of any deal.

Fannie, Freddie Sued by Massachusetts AGThe AG of Massachusetts, Martha Coakley has sued Fannie (FNMA) and Freddie (FMCC) for violating state anti-foreclosure law.

Major banks under investigation for ties to Mexican drug cartelsFederal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels. Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab Corp.

Montana Couple Takes on Bank of AmericaAbraham and Betty Morrow have never met Sunil Kumar, of Hyderabad, India, but he is a key figure in their fraud lawsuit against Bank of America. The lawsuit, alleging that the bank deliberately led them into foreclosure on their retirement home outside White Sulphur Springs, Montana had previously been dismissed by a district court judge.

Montana Supreme Court allows lawsuit against Bank of America to proceedHELENA – Reversing a summary judgment, the Montana Supreme Court on Wednesday cleared the way for a Meagher County couple to proceed with its lawsuit in District Court against Bank of America over allegedly fraudulent dealings.

Supreme Court agrees to consider case on rescinding mortgage loansThe Jesinoskis’ lawsuit claims that when their loan was closed, Countrywide did not provide all of the disclosures required by the Truth in Lending Act. Their suit states that they were not provided with two copies of a “Notice of Right to Cancel” and two copies of a “Truth in Lending Disclosure Statement.”

BofA Ex-CFO Agrees To Settle NY Lawsuit Over Merrill – WSJBank of America Corp’s former finance chief, Joe Price, has agreed to pay $7.5 million to settle a lawsuit that accused the bank and its former executives of misleading investors during the lender’s acquisition of Merrill Lynch, the Wall Street Journal reported.

Fargo foreclosure manual on trialWells Fargo is in a federal judge’s hot seat. America’s largest mortgage servicer just lost the battle to keep its controversial Wells Fargo Home Mortgage Foreclosure Attorney Procedure Manual out of federal court in New York.

Public Citizen Press RoomApril 16, 2014 Fourth Circuit: Injury to Corporate Reputation Not Enough to Justify Sealing Court Case ‘Company Doe’ Sued to Keep Complaint Out of Federal Database Designed to Warn Consumers of Faulty Products WASHINGTON, D.C. – Holding that injury to corporate reputation doesn’t justify sealing a court case, an appellate court today inCompany Doe v.

Allstate, Bank of America Agree to End Lawsuit Over MortgagesAllstate Corp. and Bank of America Corp.’s Countrywide unit have agreed to dismiss a lawsuit stemming from $700 million of toxic mortgage debt, according to a court filing on Tuesday. The parties “have agreed to dismissal of this action in its entirety,” lawyers for Allstate and Countrywide said in a document filed in U.S.