JPMorgan Chase & Co. failed to persuade a U.S. judge to entirely dismiss three different lawsuits over alleged misrepresentations made in the sales of mortgage-backed securities to credit unions that later failed.
JPMorgan Chase & Co., Barclays Plc, Credit Suisse Group AG and 10 other international lenders were sued by a U.S. credit union regulator alleging they illegally manipulated benchmark Libor interest rates.
JPMorgan Chase & Co. was sued for alleged securities fraud in its role as successor of Washington Mutual Bank by the National Credit Union Administration board, the liquidator of three failed federal credit unions.
The location of the National Credit Union Administration suits its place in the hierarchy of U.S. financial regulators. Unlike its better-known peers, which are all clustered near the Capitol or the White House, the agency is a 20-minute drive from downtown Washington in good traffic.