A U.S. housing regulator is seeking at least $6bn from Bank of America to settle civil claims the firm sold faulty mortgage bonds to government-backed finance companies Fannie Mae and Freddie Mac, according to a person with direct knowledge of the discussions
"We're trying to get it resolved'.
Deutsche Bank has started talks with some 50 employees as part of its investigation into possible manipulation of the Libor benchmark interest rate, a German newspaper reported.
JPMorgan has tentatively agreed to pay the Department of Justice a record $13bn settlement to resolve several civil probes relating to residential mortgage-backed securities — a costly deal that still doesn’t protect the bank against additional criminal prosecutions.
As Steven Cohen nears a settlement that may put his SAC Capital Advisors out of business over allegations of insider trading, some of his overseas portfolio managers aren’t waiting.
Morgan Stanley won the dismissal of a suit filed by the lender Dexia, which accused the bank of misrepresenting information about loans underlying more than $600m in mortgage-backed securities.
A British High Court judge criticized the liquidators of U.S. fraudster Bernard Madoff's London company in a judgment on Friday that dismissed their $40 million civil claim against his brother, son and former directors of the firm.
Raoul Weil, the fugitive former head of UBS’s global wealth management business, was arrested in Bologna after checking into a hotel under his own name and triggering an alert to Italy’s authorities.
The Royal Bank of Scotland is to be broken up by the Government into a 'good bank' and a 'bad bank' with the go-ahead to be given within the next few weeks, the Chancellor has disclosed.
JPMorgan Chase, eager to put a raft of mortgage-securities litigation behind it, is close to reaching a $13 billion settlement with the U.S. government, according to people familiar with the situation.