A total of $12.5 billion in settlements from Deutsche Bank and Credit Suisse may be on the way for borrowers who got mortgages before the housing bust.
The lender must pay settlement for its misconduct in selling securities backed by troubled mortgage in 2008. The agreement reached Monday.
As settlement for hiding bad loans and house desolation, Wells Fargo will pay $1.2 billion. The bank lender admitted of cheating the government by insuring thousands of risky mortgages although they are not eligible.
Sony Pictures Entertainment has agreed for an $8 million settlement with the company's former and current employee after its data was stolen in a cyber attack launched by North Korea. During the breach, information of its employees was stolen resulting in a mounting of lawsuits from each employee involved.
Three years ago, Jose Melena, 62, was burned alive inside the Bumble Bee Foods industrial oven. On Wednesday, Bumble Bee Foods was required to pay $6 million total in fees for the incident.
JPMorgan Chase & Co settled a lawsuit brought against it by the Federal Home Loan Bank of Pittsburgh involving the losses it sustained from mortgage securities it bought from the bank, Bloomberg reported.
GLG Partners, a London-based hedge fund, agreed to settle claims that it overvalued the purchase of a mining asset in 2008 in a deal worth about $9 million, Bloomberg reported.
A joint statement on Tuesday revealed that Micron Technology will be paying Rambus at $10 million in royalties per quarter for a seven-year period for the former's use of the latter's DRAM memory patents.
JPMorgan Chase & Co said it had agreed to settle claims related to faulty mortgage bonds with 21 investors which included the asset management units of BlackRock Inc, Goldman Sachs Group and Pacific Investment Management Co.
A settlement was reached between representatives of both American Airlines and US Airways Group and the US Department of Justice would pave the way to the approval of the merger.
A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.
For an undisclosed amount, Wells Fargo settles with FHFA on issue of faulty mortgages issyes
Judge Mariana Pfaelzer of the US District Court of Los Angeles temporarily approves Countrywide settlement for devalued residential mortgage backed securities.
JPMorgan to pay FHFA USD5.1 billion as settlement for loans and mortgage backed securities issues.
Fund managers BlackRock Inc and Neuberger Berman Group LLC seek settlement in the amount of USD5.75 billion for mortgage backed securities fraud.
Subscribe to VCpost newsletter
- (VIDEO Review) YEPO 737A Notebook 6GB RAM
- SEP Announces Investment in Communications Technology Leader
- Banking Innovation Strikes Back
- Ollie completes $15M financing; Series A led by Aviva Investors and Employees Retirement System of Texas
- Edurance King: OUKITEL K10 starts presale at $249.99 with 11000mAh battery
- Softbank to invest 460 million euros in Germany's Auto1
- Iceland Investing $1 Billion on Increasing Airport Capacity
- Hyundai to Invest in Grab, Uber's Largest Rival in Southeast Asia