Litigation

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California AG Sues Feds Over Renewable Energy Loans
Posted on 15 Jul 2010 by LexisNexis Litigation Resource Community Staff

SACRAMENTO, Calif. - (AP) State Attorney General Jerry Brown sued the federal government Wednesday, asking a judge to stop government-sponsored mortgage buyers from blocking a program that lets homeowners pay for energy-efficient improvements through... Read More

Citigroup Paying $75 Million To Settle Civil Charges
Posted on 29 Jul 2010 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007. The Securities and Exchange Commission announced... Read More

Bank Of America Hit With New Countrywide Lawsuit
Posted on 1 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Bank of America Corp. is facing a new lawsuit filed by a group of shareholders of mortgage giant Countrywide Financial Corp. which the bank bought in 2008. The group of investors, which include BlackRock funds, T. Rowe Price Group Inc... Read More

Goldman Sachs Discloses Shareholder Lawsuits
Posted on 4 May 2010 by LexisNexis Litigation Resource Community Staff

(AP) Goldman Sachs has disclosed information about a half-dozen lawsuits filed against it by shareholders accusing the big Wall Street firm and senior executives of misconduct and abuse in the wake of civil fraud charges brought by the government over... Read More

California Appeals Court Reverses Countrywide Lawsuit Dismissal
Posted on 20 May 2011 by LexisNexis Litigation Resource Community Staff

LOS ANGELES - (AP) An appeals court has overturned the dismissal of a class-action lawsuit brought by investors against mortgage giant Countrywide Financial Corp. The move by a panel of the California 2nd District Court of Appeal reverses the decision... Read More

Foreclosure Class Actions Pile Up Against Banks
Posted on 19 Nov 2010 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Foreclosure-fraud class action lawsuits are starting to pile up against major banks across the U.S., threatening a besieged industry with billions more in potential losses. Bank executives are swarming Capitol Hill this week to defend... Read More

Regulator Sues Goldman Sachs Over Risky Mortgages
Posted on 10 Aug 2011 by LexisNexis Litigation Resource Community Staff

LOS ANGELES - (AP) The U.S. regulator of credit unions on Tuesday sued Goldman Sachs & Co. for more than $491 million in damages over losses incurred by two failed credit unions that purchased mortgage-backed securities underwritten by the investment... Read More

Court OKs $624 Million Payout To Countrywide Investors
Posted on 1 Mar 2011 by LexisNexis Litigation Resource Community Staff

LOS ANGELES - (AP) A federal judge on Friday approved a $624 million settlement in a lawsuit brought by several New York public pension funds against fallen mortgage giant Countrywide Financial Corp. The settlement, a version of which was had been originally... Read More

Lawsuit Wave Could Hurt Housing Market: FDIC Chief
Posted on 26 Oct 2010 by LexisNexis Litigation Resource Community Staff

ARLINGTON, Va. - (AP) A wave of lawsuits from troubled borrowers who lost their homes to foreclosure could hurt the already-ailing housing market, a top banking regulator said Monday. Sheila Bair, chairman of the Federal Deposit Insurance Corp., said... Read More

Judge Approves Countrywide ID Theft Settlement
Posted on 23 Aug 2010 by LexisNexis Litigation Resource Community Staff

LOUISVILLE, Ky. - (AP) A federal judge on Monday granted final approval to a settlement between Countrywide Financial Corp. and millions of customers left at high risk for identity theft because of a security breach. Countrywide, now owned by Bank of... Read More

Bank Of America's $8.5 Billion Settlement Won't Be Its Last
Posted on 1 Jul 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) Bank of America's $8.5 billion settlement with investors is the largest any bank has ever paid. It might help assuage worries about how deep the bank's mortgage problems might be and how long it might take to settle them. But for... Read More

Bank Of America To Pay Borrowers $108 Million
Posted on 7 Jun 2010 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Bank of America will pay $108 million to settle federal charges that Countrywide Financial Corp., which it acquired nearly two years ago, collected outsized fees from borrowers facing foreclosure. It's the latest evidence of... Read More

Borrowers Sue Over Apparent Loan Modification Mishaps
Posted on 6 Jul 2011 by LexisNexis Litigation Resource Community Staff

LOS ANGELES - (AP) It seemed Maria Campusano's financial problems were behind her when the mortgage on her Victorian home in a Massachusetts mill town was chopped by hundreds of dollars a month. She soon learned that her troubles had just begun. Weeks... Read More

AIG Sues Bank Of America For $10 Billion Over Mortgages
Posted on 10 Aug 2011 by LexisNexis Litigation Resource Community Staff

NEW YORK - (AP) More trouble piled up for Bank of America Corp. on Monday, as American International Group Inc. sued it for more than $10 billion, saying the bank cheated it by selling residential mortgage-backed securities that were overvalued. The suit... Read More

California Settles Lawsuit Against Countrywide Executives
Posted on 4 Feb 2011 by LexisNexis Litigation Resource Community Staff

LOS ANGELES - (AP) The state of California has reached a settlement in a predatory lending lawsuit against former executives at Countrywide Financial Corp. that will pour $6.5 million into a fund to help foreclosed homeowners. The state had sued Countrywide... Read More