October 17, 2016
- UBS Securities LLC and other investment banks have urged the U.S. Supreme Court to review the Second Circuit’s split ruling that the Financial Institutions Reform, Recovery and Enforcement Act extended deadlines for the government to file mortgage-backed securities suits, saying it affects litigation involving $32 billion.
- A Pennsylvania federal judge on Tuesday declined to certify proposed classes in two civil actions accusing a defunct Morgan Stanley unit of breaching agreements by failing to modify homeowners’ mortgage payments or timely inform them of denial for relief, on an array of grounds.
- The U.S. Supreme Court on Tuesday declined to hear a petition by ratings agency Moody’s Corp. arguing that the First Circuit bent federal law when it revived a bank’s claims over $5.9 billion in unstable mortgage-backed securities.
- A federal appellate court on Tuesday ruled that the single-director structure atop the Consumer Financial Protection Bureau was unconstitutional, and gave the president the authority to fire the director at will in order to provide a check on the bureau’s expansive power.
- A Texas federal judge on Friday refused to dismiss additional claims against local real estate law firm Niemann & Heyer LLP in a proposed class action accusing the firm of engaging in an array of illegal activities while operating as a debt collector, finding the couple…
- New York City’s process of selling property tax liens gives landlords incentive to neglect buildings and harass tenants and should be revised to help preserve more affordable housing, according to a report from the city’s public advocate released Friday.