Editor: David Reiss
Brooklyn Law School

November 28, 2016

Monday’s Adjudication Roundup

By Robert Engelke

  • A New York federal judge on Tuesday ordered Wells Fargo Bank NA to produce documents from a pair of databases in a proposed class action accusing the bank of mishandling residential mortgage-backed securities investments, but denied the investors’ request concerning two other databases.
  • A Pennsylvania federal judge on Tuesday tossed a proposed class action accusing Bank of America Corp. of unlawfully referring borrowers to private mortgage insurance providers in exchange for kickbacks, saying the Racketeer Influenced and Corrupt Organizations Act claims were time-barred.
  • The U.S. Department of Justice has opted not to appeal the Second Circuit’s May dismissal of a roughly $1.3 billion penalty against Bank of America for a financial crisis-era mortgage program, as prosecutors did not lodge an appeal by Monday’s deadline.
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