JPMorgan Chase & Co. has resolved the last obstacles to a record $13 billion settlement of civil state and U.S. probes over the sale of mortgage bonds, clearing the way for a deal today after months of negotiations, two people briefed on the matter said.
JPMorgan Chase & Co. agreed to drop litigation against the Federal Deposit Insurance Corp. over some mortgage bonds sold by Washington Mutual Inc., clearing the way for a $9 billion accord with state and federal officials, two people briefed on the matter said.
Skadden Arps Slate Meagher & Flom LLP and Torys LLP advised Endo Health Solutions Inc. on its agreement to buy Canadian drugmaker Paladin Labs Inc. for about $1.6 billion to expand in that country and emerging markets.
JPMorgan Chase & Co.’s tentative agreement to pay a record $13 billion to end civil claims over its sales of mortgage bonds has hit a snag because of the bank’s bid to make the Federal Deposit Insurance Corp. liable for part of the payment, a person familiar with the talks said.
The Department of Justice and the Federal Deposit Insurance Corp. are pressuring banks to cut ties to online lenders whom regulators suspect of shady business practices, as part of a broad crackdown on frauds in the payment system, according to five people briefed on their work.
Torys LLP and Borden Ladner Gervais LLP advised Loblaw Cos., which agreed to buy Shoppers Drug Mart Corp. for C$12.4 billion ($11.9 billion) in the biggest takeover of a Canadian retailer. Osler Hoskin & Harcourt LLP advised Shoppers.
What were banking regulators doing while some of the biggest U.S. lenders routinely filed false foreclosure documents in local courthouses around the country? In the case of IndyMac Federal Bank , it turns out the Federal Deposit Insurance Corp. was running the joint.