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 Upstream litigation | Permalink | No Comments
April 9, 2015
Foreclosures and the Fair Debt Collection Practices Act
Bloomberg BNA quoted me in Third Circuit Says Foreclosure Complaint May Serve as Basis for Claims Under FDCPA (behind a paywall). The article opens, A foreclosure complaint may form the basis of a Fair Debt Collection Practices Act (FDCPA) claim, the … Continue reading
April 9, 2015 in Upstream litigation | 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 Upstream litigation | Permalink | No Comments
March 16, 2015
Monday’s Adjudication Roundup
BofA has asked a PA federal judge to dismiss a class action RICO suit alleging kickbacks from overpriced mortgage insurance claiming it is the same suit that was dismissed as time-barred by Third Circuit in October. Deloitte is potentially facing … Continue reading
March 16, 2015 in Upstream litigation | Permalink | No Comments
March 13, 2015
Reiss on Toxic Debt Claims
Bloomberg quoted me in Nomura First to Fight U.S. Toxic Debt Claims at Trial. The article reads in part, Nomura Holdings Inc. will defend claims by a U.S. regulator that it sold defective mortgage-backed securities to Fannie Mae and Freddie Mac … Continue reading
March 13, 2015 in Upstream litigation | Permalink | No Comments
March 9, 2015
Monday’s Adjudication Roundup
Shareholders of Deutsche Bank petitioned for cert to the U.S. Supreme Court to clarify the standard for a claim for pleading a fraudulent claim under Section 11 of the Securities Act of 1933 following the Second Circuit tossing their suit … Continue reading
March 9, 2015 in Upstream litigation | Permalink | No Comments
February 23, 2015
Monday’s Adjudication Roundup
Federal judge reprimands Wells Fargo for forged mortgage documents in connection with foreclosure in NY. Goldman Sachs, among others, argues to SDNY that it was wrongfully included in litigation over requiring mortgage customers to purchase force-placed insurance and taking kickbacks. … Continue reading
February 23, 2015 in Upstream litigation | Permalink | No Comments
