- Quicken Loans Inc. argues that its suit against the federal government is valid because it is more than just a fraud case. It claims that it is about broader issues with government housing programs.
- A class action suit against JPMorgan Chase Bank NA will not be dismissed over failure to file timely mortgage satisfactions even though one of the plaintiffs rejected a settlement offer for more than she could get from a court judgment.
- An administrative judge denied that the SEC had shown fraud in commercial mortgage-backed securities suit against Standard & Poor’s former executive, Barbara Duka, because the SEC failed to show that S&P had done anything wrong, let alone Duka.
- IKB Deutsche Industriebank AG’s suit against Goldman Sachs Group Inc. remains intact for losses after a $73.2 million purchase of residential mortgage-backed securities. Goldman Sachs argued that the suit was beyond the German 3-year statute of limitations.
- Law360 compiles lists of “The Top Banking Cases In The First Half of 2015.”
Tag Archives: class action suit
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, which caused $1 billion in investor losses.
- The Third Circuit Court of Appeals has ruled that the Fair Debt Collection Practices Act (FDCPA) covers foreclosure complaints in suit brought by Bank of America and a NJ law firm.
- First Horizon National Corp.’s subsidiary First Tennessee Bank settles with FDIC over violation of due-diligence regulations for Federal Housing Administration-insured home loans for $212.5 million.
- HSBC and Assurant settle for $1.8 billion over allegations that the bank got kickbacks for getting consumers to purchase inflated flood insurance.