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USA - September 28 2012
According to the FDIC, the Volcker rule, named for former Federal Reserve Chair Paul Volcker, is on track to be completed by year’s end.
USA - September 28 2012
Federal prosecutors report that they have reached a plea agreement with Russell Wasendorf, Sr., the head of Peregrine Financial Group, Inc., in which he admitted to orchestrating a $200 million embezzlement scheme.
USA - September 28 2012
On September 6, 2012, the U.S. Court of Appeals for the Second Circuit held that a plaintiff had standing to assert claims not only against originators of offering certificates in which the plaintiff specifically invested, but could also proceed with claims on behalf of purchasers of certificates backed by mortgages originated by the same lenders.
USA - September 28 2012
On September 5, 2012, three separate lawsuits were filed in New York state court against Citigroup, Inc., Goldman Sachs Group, Inc. and UBS AG alleging both fraud and negligent misrepresentation in connection with the banks’ sales of certain residential mortgage-backed securities.
USA - September 28 2012
As part of the 2010 Dodd-Frank financial reform legislation, the Consumer Financial Protection Bureau (CFPB) was created in order to consolidate federal financial consumer protection into one agency.
