Las Vegas Man’s Lawsuit Against Bank of America Corporation and Nationstar Mortgage, LLC Moves Forward in Federal CourtFeb. 1, 2016 /PRNewswire/ — After a nine year battle against “The Big Banks”, Las Vegas Realtor Michael Bondi’s federal lawsuit against Bank of America, N.A. and Nationstar Mortgage, LLC, is finally moving forward. Bondi is claiming fraud, civil conspiracy, misrepresentation, violations of the Federal Fair Credit Reporting Act and the Federal Fair Debt Collections Practices Act.

Overstock.com settles lawsuit against Merrill Lynch for $20 millionOverstock.com said it has accepted a $20 million payment from Merrill Lynch to settle a long-running lawsuit that accused the brokerage firm of manipulating the retailer’s stock price.

Bank Mortgage Settlements Total $144 Billion–Where Did It Go?In 2011, Bank of America agreed to pay $8.5 billion to mortgage bond holders like Blackrock and Pimco for loans mostly originated by Countrywide, so obviously something went terribly wrong there.In 2012, the five largest banks agreed to pay $25 billion in penalties and “borrower relief,” so very well done there.

Virginia reaches $63 million pact with 11 banks in mortgage bond fraud suitA group of 11 banks agreed to pay more than $63 million to settle allegations that they misled the Commonwealth of Virginia and its retirement system about residential mortgage backed-securities, Attorney General Mark R. Herring said on Friday.

Foreclosure crisis continues to hammer black Americansby Avis Thomas Lester, Urban News Service PHOTO/URBAN NEWS SERVICE Foreclosures continue to afflict African Americans, even in some of the nation’s most prosperous communities. Affluence is no antidote to foreclosure. In Prince George’s County, Maryland – one of the United States’ wealthiest majority-black jurisdictions – the foreclosure crisis has hammered several solidly middle-class communities.

Goldman Sachs to pay $5bn to settle financial-crisis mortgagesGoldman Sachs said it agreed to a $5.1 billion civil settlement to resolve federal and state probes into its handling of mortgage-backed securities before the 2008 financial crisis. The proposed deal, which the Wall Street giant announced in a Thursday statement, would settle “actual and potential civil claims” by the US Justice Department and the attorneys general of New York and Illinois, as well as state regulators, against Goldman.

BNY Mellon being sued by lender Commerzbank AG over housing crisis-related activitiesSign up for one of our email newsletters. Bank of New York Mellon is being sued by a German lender over $750 million in losses related to mortgage-backed securities that went sour during the housing crisis. In a lawsuit filed Dec. 23 in U.S.

Deutsche Bank Tally of Suspect Russia Trades at $10 BillionDeutsche Bank AG has identified as much as $4 billion in suspicious transactions related to its Russian operations, in addition to $6 billion in so-called mirror trades it is examining, said several people with knowledge of the bank’s review of the matter.

Banks Lawsuit: Preliminary Approval Granted for $2 Billion in SettlementsA U.S federal court on Tuesday granted the plaintiffs’ motion to preliminarily approve nine settlements in the Foreign Exchange Benchmark Rates Antitrust Litigation case. As we reported back in August, these settlements with Bank of America, Barclays, BNP Paribas, Citi, Goldman Sachs, HSBC, JPMorgan, RBS, and UBS will cost the banks well over $2 billion in total.

Hong Kong watchdog fines JPMorgan for dark pool, control failuresHONG KONG Hong Kong’s securities watchdog said on Tuesday it had fined JPMorgan HK$30 million ($3.87 million) for a range of control failures, including breaches in its dark pool business. The U.S. bank is the latest institution to fall foul of a broader crackdown by the Securities and Futures Commission (SFC) on electronic trading and dark pools in the financial center.

Morgan Stanley Settles MBS Lawsuit; Agrees to Pay $225MYet another Wall Street bank – Morgan Stanley MS – has settled a lawsuit pertaining to sale of mortgage-backed securities (“MBS”). The company will.

Lawmakers, foreclosure victims react to lawsuit over settlementsAs Delaware lawmakers grapple with how to fill a budget gap for the second year in a row, they must also now contend with a lawsuit trying to stop them from using $30 million in leftover financial crisis-related settlement funds to bridge that gap.

HSBC Judge Approves $1.9B Drug-Money Laundering AccordHSBC Holdings Plc’s $1.9 billion agreement with the U.S. to resolve charges it enabled Latin American drug cartels to launder billions of dollars was approved by a federal judge. U.S. District Judge John Gleeson in Brooklyn, New York, signed off yesterday on a deferred-prosecution agreement, a critical component of the London-based bank’s settlement.

Big Bank Gets Small Fine For Terrorist TransactionsA major U.S. bank has agreed to a settlement for transferring funds on the behalf of financiers for the militant group Hezbollah, the Treasury Department announced on Tuesday. Concluding that HSBC’s actions “were not the result of willful or reckless conduct,” Treasury’s Office of Foreign Assets Control accepted a $32,400 settlement from the bank.

Metro Atlanta counties sue Bank of America for alleged mortgage aThree metro Atlanta counties claim in a lawsuit that Bank of America and related companies resorted to abusive mortgage lending practices that targeted black and Latino homeowners. They seek “hundreds of millions of dollars” in damages to offset lost tax revenue and other public costs they claim stemmed from the practices.

Protest over home foreclosures crowded the streets of downtown FresnoHundreds of people who’ve lost their homes to foreclosure crowded the streets of downtown Fresno Tuesday afternoon. They’re fighting the banks who took their homes, claiming it wasn’t always on the up and up. The huge crowd started to disappear as the rain started, but not before they were told their lawsuit took a big step forward.

Cobb County, DeKalb County, and Fulton County, Georgia File Federal Fair Housing Act Lawsuit Against Bank of America Corp., Bank of America, N.A., Countrywide Financial Corp., Countywide Bank, FSB, and Merrill Lynch & Co. for Discriminatory Mortgage Lendi | news.sys-con.comATLANTA, Nov. 23, 2015 /PRNewswire/ — Cobb County, DeKalb County, and Fulton County, Georgia, filed a lawsuit against Bank of America Corporation, Bank of America, N.A., Countrywide Financial Corporation, Countywide Bank, FSB, and Merrill Lynch & Co seeking damages and injunctive relief for violations of the federal Fair Housing Act (“FHA”).

Bank of America Pays More Than Anyone as Wall Street’s Legal Tab Tops $219 BillionJPMorgan Chase , and 13 other global banks have spent at least $219 billion to cover legal costs since 2008, a new report from Moody’s Investors Service shows, in a tally of the staggering costs to investors of regulatory and criminal probes into market-rigging, money laundering and improper mortgage-bond sales.

U.S. pursuing criminal cases against RBS, JPMorgan executives: WSJPeople familiar with the probes said officials were trying to determine whether the bankers ignored warnings from associates that they were packing too many weak mortgages into investment offerings and whether they can prove that constituted fraud, the newspaper said.