The National Credit Union Administration Board is reviewing its options and will pursue its claims vigorously. That is what the agency said after a federal judge in Los Angeles Friday ruled NCUA waited too long [...]
A federal judge in Los Angeles Friday ruled that National Credit Union Administration waited too long before filing its lawsuit against Goldman Sachs over $491 million in losses from residential mortgage-backed securities sold to U.[...]
by. Robert McGarvey Filed too late – that was why U.S. District Court Judge John W. Lungstrum in Kansas City, Kan., said he dismissed NCUA’s suit against a Barclay’s investment banking group. The [...]
Barclays Plc (BARC.L) on Wednesday won the dismissal of a U.S. credit union regulator's lawsuit over the sale of more than $555 million of mortgage-backed securities to two failed corporate credit unions. U.[...]
By Hugh Son & David McLaughlin Bank of America Corp., the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees [...]
By Andrew Harris and Dan Margolies Eight lawsuits by the National Credit Union Administration Board aimed at recouping losses on mortgage-backed securities were halted by a federal judge pending an appeals court ruling. U.S. [...]
Banks targeted in 15 active suits filed in 2011 by the Federal Housing Finance Agency over mortgages sold to Fannie Mae and Freddie Mac prior to the housing finance crisis have asked a federal appeals [...]
A federal court has concluded that NCUA cannot pursue seven of its eight claims against Goldman Sachs over losses relating to mortgage-backed securities because the agency waited too long to file those claims, according to [...]
by Keith Leggett A whistleblower lawsuit filed by the former CEO of Ukrainain National Federal Credit Union reveals that the credit union was under an enforcement order. The Credit Union Journal (paid subscription) reported that [...]
The National Credit Union Administration's use of law firms that operate on a "contingency basis" to sue banks does not violate an executive order that prohibits such arrangements, the NCUA's Office of the Inspector General [...]
By Christopher Matthews Most of the time, court cases are manna for journalists. The politicians and corporations we cover aren’t in the habit of dishing out information they don’t want the public to [...]
By Edvard Pettersson and Jesse Hamilton JPMorgan Chase & Co. (JPM) was sued for alleged securities fraud in its role as successor of Washington Mutual Bank by the National Credit Union Administration board, the liquidator [...]
By Chris Isidore @CNNMoney From laundering money for Iran, to manipulating interest rates paid by consumers and businesses, to improperly foreclosing on homeowners, misdeeds cost the banks a record of more than $10.7 billion [...]
By Andrew Harris & Jesse Hamilton The National Credit Union Administration board sued a J.P. Morgan Chase & Co. (JPM) unit claiming Bear Stearns & Co., which it acquired in 2008, used misleading documents [...]
BY HEATHER ANDERSON The NCUA announced Monday it has filed its biggest mortgage-backed security fraud suit to date, alleging in federal court in Kansas that J.P. Morgan Securities and Bear, Stearns & Co. violated [...]
