A federal judge on Wednesday said banks faced an uphill battle in convincing her to dismiss a U.S. regulator's claims that they misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour.
U.S. regulators on Tuesday urged banks to work with clients to avoid defaults on hundreds of billions of dollars of home equity lines of credit taken out during the housing bubble that will come due in the next several years.
The New York Attorney General on Wednesday filed a securities fraud lawsuit against Barclays PLC for misrepresenting the safety of its U.S.-based alternative trading system, or "dark pool," to investors.
Brian Moynihan may be taking a play out of Jamie Dimon’s book. Representatives of Bank of America Corp have asked U.S. Attorney General Eric Holder to meet with Moynihan, its chief executive officer, in an attempt to resolve differences over a possible multibillion-dollar settlement involving shoddy mortgage securities sold by the second-largest U.S. bank and its units, according to people familiar with the negotiations.
Institutional investors including BlackRock Inc and Allianz SE's Pimco on Wednesday sued six of the largest bond trustees, accusing them of failing to properly oversee more than $2 trillion in mortgage-backed securities issued in the run-up to the 2008 financial crisis.
Ocwen Financial Corp will stop requiring some homeowners to not criticize the company publicly in exchange for having the terms of their loans eased, New York state banking regulator Benjamin Lawsky said on Tuesday.
The U.S. Attorney's office in Manhattan is investigating at least five banks over whether they overcharged the government for expenses incurred during foreclosures on federally backed home loans, filings and interviews show.
New York banking regulator Benjamin Lawsky said on Wednesday he is looking into reports Ocwen Financial Corp is requiring some struggling homeowners to agree not to criticize the company in public if they want to have a mortgage modified.
Deutsche Bank will ask shareholders for 8 billion euros ($11 billion) to strengthen its balance sheet as a business slump and hefty fines eat into profits, with the bank saying more penalties await.
Pacific Investment Management Co, BlackRock Inc. and DoubleLine Capital LP and other investors on Friday withdrew appeals of a ruling that had dismissed their lawsuits to block a California city's plan to seize mortgages and keep delinquent borrowers in their homes.