Republican Senator Rob Portman doesn’t have a committee chairmanship or a leadership post. One asset he wields in the politically divided capital is a direct line to a prominent Democrat: Treasury Secretary Jacob J. Lew.
The exchange of evidence in the government’s forfeiture lawsuit against SAC Capital Advisors LP was delayed by a judge until Jan. 6 while the U.S. pursues insider trading prosecutions tied to the hedge fund.
Fannie Mae, the government- controlled mortgage-finance company, is starting to prepare investors for the first transaction in which the firm would share the risk of homeowner defaults with bond buyers.
The U.S. Justice Department has subpoenaed documents from what was Wall Street’s largest mortgage due-diligence firm as it ratchets up an investigation into bank actions in the years before the financial crisis.
A U.S. housing regulator is seeking at least $6 billion from JPMorgan Chase & Co. to settle civil claims the bank sold bad mortgage bonds to government-backed finance companies Fannie Mae and Freddie Mac, according to a person briefed on the matter.
The six biggest U.S. banks, led by JPMorgan Chase & Co. and Bank of America Corp., have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to shareholders in the past five years.
Regulators today proposed easing a measure to require lenders to keep a stake in mortgages that they securitize, an effort designed to discourage the kind of risky loans that contributed to the subprime credit crisis.