August 1, 2014
FHFA Wins on “Actual Knowledge”
Judge Cote issued an Opinion and Order in Federal Housing Finance Agency v. HSBC North America Holdings Inc., et al. (11-cv-06189 July 25, 2014). The opinion and order granted the FHFA’s motion for partial summary judgment concerning whether Fannie and … Continue reading
August 1, 2014 in Upstream litigation | Permalink | No Comments
July 30, 2014
Reiss on Big BoA FIRREA Penalty
Bloomberg BNA quoted me in FIRREA-Fueled Penalty Against BofA Signals More Risk for Large Institutions (behind a paywall). It reads in part, A federal judge in New York ordered Bank of America to pay $1.26 billion in civil penalties to … Continue reading
July 30, 2014 in Upstream litigation | Permalink | No Comments
July 18, 2014
GSE Shareholders Taking Discovery
Judge Sweeney of the Court of Federal Claims issued an Opinion and Order regarding jurisdictional discovery as well as a related Protective Order in the GSE Takings Case brought by Fairholme against the United States. I had previously discussed the … Continue reading
July 18, 2014 in Upstream litigation | Permalink | No Comments
July 15, 2014
Reiss on Citigroup Settlement
Law360 quoted me in Feds Deploy Potent Bank Fraud Law In $7B Citi Pact (behind a paywall). It reads in part: The U.S. Department of Justice’s $7 billion mortgage bond settlement with Citigroup Inc. on Monday may not have been … Continue reading
July 15, 2014 in Upstream litigation | Permalink | No Comments
July 2, 2014
Running CERCLA around FIRREA
Law360 quoted me in High Court Environmental Ruling Could Clear Air For Banks (behind a paywall). The article reads in part, A recent U.S. Supreme Court ruling that a federal environmental law does not preempt state statutes of repose has … Continue reading
July 2, 2014 in Upstream litigation | Permalink | No Comments
June 25, 2014
S&P on Risky Reps and Warranties
Standard & Poor’s posted New Players In The RMBS Market Could Present Unique Representations And Warranties Risks. It opens, S&P believes that new entrants into the residential mortgage-backed securitization (RMBS) market that make loan-level representations and warranties (R&Ws) may present … Continue reading
June 25, 2014 in Upstream litigation | Permalink | No Comments
June 18, 2014
S&P Must Face The Orchestra on Rating Failure
After many state Attorneys General brought suit against S&P over the objectivity of their ratings, S&P sought to consolidate the cases in federal court. Judge Furman (SDNY) has issued an Opinion and Order in In Re: Standard & Poor’s Rating … Continue reading
June 18, 2014 in Upstream litigation | Permalink | No Comments
