LexisNexis® Legal Newsroom
Federal Jury Finds Bank of America Guilty of Mortgage Fraud

NEW YORK — (Mealey’s) A federal jury on Oct. 23 found Bank of America Corp., as successor to Countrywide Financial Corp., and a former Countrywide employee guilty of engaging in a scheme to defraud Fannie Mae and Freddie Mac in connection with Countrywide’s residential mortgage lending...

AIG to Pay $970.5M to Settle Securities Law Claims in Shareholder Class Action

NEW YORK — (Mealey’s) American International Group Inc. (AIG) has agreed to pay $970.5 million to settle claims in a federal lawsuit in New York that it and several of its senior officers and directors misled investors as to AIG’s exposure to the subprime mortgage lending crisis of...