Seven big banks settle U.S. rate-rigging lawsuit for $324 millionNEW YORK Seven of the world’s biggest banks have agreed to pay $324 million to settle a private U.S. lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market.

Who Can Go After Banks for the Foreclosure Crisis?Cities are arguing that they, too, were damaged by risky loans, and that they should be able to take the lenders to court to regain their losses. Please consider disabling it for our site, or supporting our work in one of these ways Subscribe Now >

Bank of America Settles Fraudulent Mortgage-Backed Securities Lending ChargesBank of America Corp. ( NYSE:BAC) has agreed to settle the charges over the sale of mortgage-backed securities prior to the financial crisis of 2008. The Federal Home Loan Bank of Seattle filed the lawsuit in 2009. The lender reached a settlement worth $190 million, according to the filing cited by Bloomberg.

Florida Bar group gets $23M in mortgage settlementThe Florida Bar Foundation got a check this week for $23 million, its largest ever, as part of a Bank of America mortgage settlement that aims to provide legal aid for homeowners facing foreclosure. The money came with few rules for how to spend the windfall. Primarily it’s intended for legal assistance…

Treasury Dept. financial crimes director to join HSBC despite Mexican drug money taint – reportThe Treasury Department’s top anti-money laundering official is reportedly taking a top seat at HSBC, a bank struggling to cope with a record $1.9 billion settlement with the US government in a case involving a Mexican drug cartel and financial fraud.

‘Not credible’: Big 5 US banks lack disaster-readiness, violate Dodd-Frank Act, regulators sayWary of a repeat of taxpayer bailouts for “too big to fail” banks, the Federal Reserve and Federal Deposit Insurance Corporation issued a first-time joint statement criticizing five top banks’ strategies for avoiding bankruptcy as “not credible.” The five banks, JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., Bank of New York Mellon Corp.

Couple sue mortgage provider for alleged fraud, breach of contractPHILADELPHIA – A couple’s suit against their mortgage provider alleges fraud, breach of contract, and violation of various consumer-protection provisions. Joseph W. Prince and Betty Jo Prince filed a lawsuit on April 4 in the U.S.

Why You Should Care About Big Banks Cutting Deals with the Feds to Avoid Prosecution | VICE | United StatesGoldman Sachs Group headquarters stands in New York. John Taggart/Bloomberg via Getty Images On Monday, Wall Street behemoth Goldman Sachs agreed to shell out more than $5 billion for deceiving investors and contributing to the 2008 financial crisis.

Lawsuit says banks improperly failed to inform consumers about extra interestFor years it was widely considered a massive, government-sanctioned rip-off of home-mortgage borrowers. Then it was banned by the Consumer Financial Protection Bureau. And now it’s the subject of class-action suits that accuse four large banks of illegally collecting millions of dollars in excess mortgage-interest payments from their customers.

Goldman Sachs Finally Admits it Defrauded Investors During the Financial CrisisInvestment banking giant Goldman Sachs has agreed to a list of “facts” in addition to paying $5.1 billion to settle a lawsuit related to its handling of mortgage-backed securities leading up to the 2007 financial crisis, the U.S. Department of Justice announced Monday.

Goldman Sachs, US settle for $5b over bunk mortgages sold in run-up to 2008 crisisGlobal investment banking firm Goldman Sachs has agreed to pay a more than $5 billion settlement over its deceptive sales of mortgage-backed securities prior to the 2008 financial crisis.

Wells Fargo Agrees To Blockbuster Mortgage Settlement(Reuters) – Wells Fargo admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice lawsuit. The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S.

Lawsuit challenges Bank of America’s mortgage default feesThu Apr 7, 2016 6:46am EDT Bank of America has been hit with a proposed class action lawsuit accusing it of charging improper fees to homeowners facing foreclosures, making it more difficult for them to keep their homes.

U.S. judge rejects 14 banks’ bid to throw out rate-rigging lawsuitNEW YORK A federal judge in Manhattan on Monday rejected an effort by 14 of the world’s biggest banks to throw out a private lawsuit accusing them of rigging an interest rate benchmark used in the $553 trillion derivatives market. U.S.

Credit Suisse (CS) Settles RMBS Case with NCUA for $29MOn Thursday, Swiss Bank ??? Credit Suisse Group AG (CS) agreed to a settlement by paying $29 million to the U.S. regulator for credit unions ??? National Credit Union Administration (NCUA) ??? related to the RMBS lawsuit.

Bank of America, et al. accused of anti-competitive conductCHICAGO (Legal Newsline) – Several financial institutions are being sued over alleged anti-competitive conduct in the market for interest rate swaps (IRS). Harrison County, Mississippi, Magnolia Regional Health Center and Cullman Regional Medical Center, individually and for all others similarly situated, filed a class-action lawsuit Feb. 18 in U.S.

U.S., UK likely to charge multiple banks in Libor rigging: WSJWASHINGTON American and British regulators are likely to charge several banks with rigging interest rates, including Citigroup, the third-largest U.S. bank, and London-based HSBC Holdings, the Wall Street Journal reported on Friday. The U.S. Commodity Futures Trading Commission and the U.K.

Judge OKs class action against Wells Fargo in dispute with California homeownersPosted: 02/03/2016 06:22:33 AM PST Updated: 02/03/2016 06:23:34 AM PST SAN FRANCISCO — Wells Fargo must defend itself against a class-action lawsuit brought by homeowners who accuse the banking giant of failing to modify mortgages that the residents sought to change amid the foreclosure crisis unleashed by the Great Recession, attorneys said Tuesday.

Bank of America, Wells Fargo Press Bids to Dismiss Bias ClaimsState political subdivisions such as counties have no right to sue under the Fair Housing Act (FHA), Bank of America told a federal judge in a bid to squelch lending bias claims by three Georgia counties (Cobb County v. Bank of Am. Corp., N.D. Ga., No. 15-cv-04081, motion to dismiss, 1/29/16).