The biggest Wall Street banks have spent more than $93 billion dealing with the fallout from the housing bust, settling disputes with the U.S. government and homeowners. Now they must face the Germans.
Countrywide Financial Corp. co- founder Angelo Mozilo said under oath last year that he had “no regrets” about how he ran the mortgage firm and that he only agreed to a record $67.5 million regulatory settlement in 2010 to protect his children.
A Maryland public pension fund was named lead plaintiff in a consolidated shareholder lawsuit against Toyota Motor Corp. accusing the carmaker of failing to disclose defects related to sudden-acceleration of its vehicles.
Countrywide Financial Corp. , the mortgage lender acquired by Bank of America Corp. , and KPMG LLP, its former auditor, won final approval for a $601.5 million minimum settlement with Countrywide investors suing for securities fraud.
Bank of New York Mellon Corp., the world’s largest custody bank, failed a second time to win dismissal of the state of Virginia’s lawsuit accusing it of defrauding pension funds in foreign-currency trades.
Bank of New York Mellon Corp., the world’s largest custody bank, failed to win dismissal of a lawsuit brought by the state of Virginia that accuses it of defrauding pension funds in foreign-currency trades.
Barclays Plc, the U.K.’s second- largest bank, was sued by Landesbank Baden-Wuerttemberg and Sealink Funding Ltd. in separate cases over losses in the sale of mortgage-backed securities valued at a total of $808.7 million.