June 15, 2015
Monday’s Adjudication Roundup
The CFPB increased PHH Corp.’s penalty to $109 million from $6.4 million on appeal, while upholding an administrative judge’s ruling that the firm was involved in a mortgage insurance kickback scheme. A class of PHH borrowers have been granted cert … Continue reading
June 15, 2015 in Government lawsuits | Permalink | No Comments
May 21, 2015
AG Lynch on Wall Street
Institutional Investor quoted me in Will New Attorney General Loretta Lynch Shake up Wall Street? It opens, Those unhappy with the lack of personal accountability for the 2008–’09 financial crisis are running out of time to see justice served: In … Continue reading
May 21, 2015 in Government lawsuits | Permalink | No Comments
May 12, 2015
FHFA’s $500MM Win
Bloomberg quoted me in Nomura, RBS Defective-Bond Suit Loss Seen Spurring Deals. It reads, in part, Nomura Holdings Inc. and Royal Bank of Scotland Group Plc may face $500 million in damages for what a judge called an “enormous” deception in … Continue reading
May 12, 2015 in Government lawsuits | Permalink | No Comments
May 6, 2015
LawProfs in MERS Litigation
The Legal Services Center of Harvard Law School (through Max Weinstein et al.); Melanie Leslie, Benjamin N. Cardozo School of Law; Joseph William Singer, Harvard Law School; Rebecca Tushnet, Georgetown University Law Center and I filed an amicus brief in County of Montgomery … Continue reading
May 6, 2015 in Government lawsuits | Permalink | No Comments
April 27, 2015
Monday’s Adjudication Roundup
Quicken Loans Inc. filed a complaint against the Justice Department and the U.S. Department of Housing and Urban Development claiming that they tried to get Quicken to make false admissions during a settlement. The Government in turn sued Quicken under … Continue reading
April 27, 2015 in Government lawsuits | Permalink | No Comments
April 13, 2015
Monday’s Adjudication Roundup
Bankrupt Washington Mutual settles in class action suit for $10 million after duping plaintiffs into taking out mortgages with low “teaser rates.” Goldman Sachs asks NY Federal Judge not to certify class action suit over its Abacus collateralized debt obligation, … Continue reading
April 13, 2015 in Government lawsuits | Permalink | No Comments
March 26, 2015
FIRREA Wall
Courts have read the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) very broadly, giving the federal government a powerful weapon in its lawsuits against financial institutions regarding events relating to the financial crisis. Judge Swain (SDNY) has … Continue reading
March 26, 2015 in Government lawsuits | Permalink | No Comments
