April 11, 2016
- Two foreign investors brought suit against the U.S. Citizenship and Immigration Services claiming that its rule requiring EB-5 applicants to secure their loans by certain assets is arbitrary and capricious.
- A New York judge held that U.S. Bank’s (as trustee) suit against Credit Suisse was brought within the statute of limitations. The suit sought to make Credit Suisse buy back more than $1 billion in toxic mortgage loans used to back securities by the trust.
- A New York federal judge signed off on $1.2 billion settlement from Wells Fargo for defrauding the Federal Housing Administration by submitting insurance claims for defaulted loans that didn’t meet the FHA’s standards.