FDIC and Fannie Mae/Freddie Mac Lawsuits and Settlements

April 2014

• BofA $9.5 billion MBS Settlement with FHFA: “A pivotal financial crisis case, ending with a whimper” (NYT, 4/2/14)

March 2014

• BofA $9.5 billion MBS Settlement with FHFA:
  • [TOP TEN]“BofA settles crisis-era suits” (WSJ, 3/27/14)
  • [TOP TEN]“BofA to pay $9.5 billion to settle Fannie Mae, Freddie Mac lawsuits” (LAT, 3/27/14)
• FDIC Lawsuit for Libor Manipulation Against 16 Banks:
  • [TOP TEN]“FDIC sues banks over Libor” (WSJ, 3/15/14)
  • “FDIC sues 16 big banks over rigging of a key rate” (NYT, 3/15/14)
  • “FDIC sues banks over alleged Libor rigging” (LAT, 3/15/14)
• Federal Housing Finance Agency (FHFA) $885 Million Settlement of MBS Lawsuit with Credit Suisse:“Credit Suisse settles mortgage litigation” (WSJ, 3/22/14)
• FHFA MBS Lawsuit Against BofA/Countrywide: “Judge urges mortgage suit against bank be dismissed” (NYT, 3/28/14)

February 2014

• $1.25 Billion Fannie/Freddie MBS Settlement with Morgan Stanley: [TOP TEN]“Morgan Stanley settles bond suit” (WSJ, 2/5/14)

December 2013

• Fannie Mae Settles Subprime Mortgage Lawsuit Against Wells Fargo for $591 million: “Wells settles Fannie Mae dispute” (LAT, 12/31/13)

October 2013

• Freddie Mac $780 million settlement with Wells Fargo:
  • “Wells settles with Freddie” (WSJ, 10/1/13)
  • “Freddie Mac and Wells Fargo settle on loans” (NYT, 10/1/13)

September 2013

• Freddie Mac $395million settlement with Citigroup:
  • “Citi resolves Freddie claims” (LAT, 9/26/13)
  • “Citigroup to pay $395 million to settle Freddie Mac claims” (NYT, 9/26/13)

July 2013

• Bear Stearns Hedge Fund Liquidation Versus Rating Firms: “Bear funds’ liquidators sue rating firms” (WSJ, 7/11/13)

March 2013

• [TOP TEN]D&O Insurance: “Small US banks hit by rising insurance cost” (WSJ, 3/12/13)
• Fannie / Freddie $8.5 Billion Settlement with 10 Banks (And Related Settlements): 
  • “Fannie, Freddie to make joint mortgage company” (WSJ, 3/5/13)
  • “Fannie, Freddie to merge some tasks in new company” (LAT, 3/5/13)
• FDIC Settlements: 
  • [TOP TEN]“FDIC begins to reveal its deals” (LAT, 3/19/13)
  • [TOP TEN] “FDIC keeps quiet about settlements” (LAT, 3/11/13)
• Freddie Mac: “Freddie Mac posts $11 billion profit, its largest ever” (WSJ, 3/1/13)

February 2013

• Fannie / Freddie $8.5 Billion Settlement with 10 Banks (And Related Settlements): “Debating future of Fannie and Freddie” (WSJ, 2/25/13)

January 2013

Fannie / Freddie $8.5 Billion Settlement with 10 Banks (And Related Settlements):

• “HSBC to pay $249 million in foreclosure inquiry” (NYT, 1/19/13)
• “Two banks to pay $557 Million in foreclosure settlement” (NYT, 1/17/13)
• “Banks in foreclosure deal: Goldman, Morgan Stanley reach $560 million settlement with Federal Reserve” (WSJ, 1/17/13)
• “Foreclosure fiasco” (NYT, 1/15/13)
• “Paying the price, but often deducting it” (NYT, 1/13/13)
• [TOP TEN] “Bank deal ends flawed review of foreclosures” (NYT, 1/11/13)
• “Mortgage deals came just in time” (WSJ, 1/10/13)
• “Another slap on the wrist” (NYT, 1/9/13))
• “Banks to pay $8.5 billion to speed up housing relief” (NYT, 1/8/13)
• [TOP TEN] “In deal, big bank extends retreat from mortgages” (NYT, 1/8/13)
• “BofA’s winding mortgage road” (WSJ, 1/8/13)
• “The foreclosure shakedowns” (WSJ, 1/8/13)
• [TOP TEN] “Big banks settle mortgage hangover” (WSJ, 1/8/13)
• “BofA deal is at a high cost, but eases fears” (FT, 1/8/13)
• “US banks to pay out over $20 Bn over home loans” (FT, 1/8/13)
• “Banks near a deal on reviled reviews” (LAT, 1/7/12)
• “Bank-foreclosure settlement nears” (WSJ, 1/7/13)
• “Regulators and 14 banks are said to be near a deal on foreclosure claims” (NYT, 1/7/13)
• “Fed is kink in mortgage pact with banks, OCC” (WSJ, 1/5/13)

December 2012

• IndyMac: FDIC settlement with IndyMac CEO Perry: “Ex-banker settles over IndyMac collapse” (LA Daily Journal, 12/17/12)
• IndyMac: FDIC Trial of Three IndyMac Executives:
  • “Former IndyMac CEO Michael Perry to pay $1 million in settlement” (LAT, 12/15/12)
  • [TOP TEN] “Jury: bankers liable for $168 million” (LA Daily Journal, 12/10/12)
  • “Former IndyMac execs told to pay FDIC $169 million” (LAT, 12/8/12)
  • [TOP TEN]“FDIC rests case against bankers over loan approvals” (LA Daily Journal, 12/7/12)
• NERA Report: “Trends in FDIC professional liability litigation” (5/31/12)
• Cornerstone Report: “Characteristics of FDIC Lawsuits Against Directors and Officers of Failed Financial Institutions” (5/1/12)
• FDIC Website: Regulations and Examinations

November 2012

• IndyMac: FDIC Trial of Three IndyMac Executives: “FDIC seeks damages from three former IndyMac executives” (LAT, 11/9/12)