Nine months into her job as California attorney general, Kamala Harris found herself across the table from lawyers for five of the nation’s biggest lenders, trying to hammer out a deal to help mortgage holders weather the foreclosure crisis.
Standard & Poor’s lost a second bid to dismiss a lawsuit by California’s attorney general seeking to hold the company responsible for $1 billion in losses by state pension funds that bought mortgage-backed securities awarded the company’s highest ratings.
Two Arizona-based political organizations agreed to pay $1 million to settle claims they violated California’s campaign-finance laws when they donated $15 million to conservative causes in the 2012 election.
JPMorgan Chase & Co. agreed to pay $5.1 billion to settle Federal Housing Finance Agency claims related to home loans and mortgage-backed securities the company sold to Fannie Mae and Freddie Mac, resolving part of a $13 billion accord the firm is negotiating with the government.
Ex-San Diego Mayor Bob Filner, who resigned after being accused of sexual harassment, pleaded guilty to charges that he forced himself on women at political events in a deal with prosecutors that spares him prison time.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon went to Washington almost a month ago to see if U.S. Attorney General Eric Holder would settle a criminal probe of mortgage fraud at the bank if it paid more money to resolve related civil investigations.
JPMorgan Chase & Co.’s tentative agreement to pay a record $13 billion to end civil claims over its sales of mortgage bonds, a deal that won’t absolve the bank of potential criminal liability, hasn’t shaken some investors’ faith in Chairman and Chief Executive Officer Jamie Dimon.
JPMorgan Chase & Co.’s tentative $13 billion settlement will include about $3 billion for states and federal regulators, much of which may be passed on to investors who bought faulty mortgage-backed securities, according to two people briefed on the matter.