Category Archives: Citigroup

Rakoff’s Rejection of SEC Settlement with Citi Sends Stern Message to Wall Street’s Primary Regulator

Two days after the release of one of the most scathing judicial opinions in recent memory, the importance of federal Judge Jed Rakoff’s rejection of the SEC’s $285 million settlement with Citigroup is just beginning to sink in.  In just … Continue reading

Posted in abacus, banks, CDOs, Citigroup, Complaints, consitutionality, costs of the crisis, damages, Goldman Sachs, investigations, investors, JPMorgan, Judge Jed Rakoff, Judicial Opinions, lawsuits, liabilities, litigation, media coverage, negligence and recklessness, oversight, Paulson and Co., probes, regulation, Regulators, SEC, securities laws, settlements, Uncategorized | 1 Comment

Federal Regulators Pick Fight with Banks Over Collapsed Credit Unions

Just when you thought the hubbub surrounding mortgage backed securities (MBS) was starting to subside, federal regulators have taken their most aggressive stance yet against the banks that sold toxic loans as investment grade securities, according to an article in … Continue reading

Posted in BofA, bondholder actions, Citigroup, Credit Unions, FDIC, Goldman Sachs, JPMorgan, Kathy Patrick, litigation, Merrill Lynch, misrespresentation, NCUA, private label MBS, Regulators, securities fraud | Leave a comment

SEC Demands More Disclosure From JP Morgan on Repurchase Liabilities


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By Manal Mehta, Guest Blogger The Securities and Exchange Commission (SEC) recently took a much needed step towards improving the transparency of bank balance sheets, particularly when it comes to the adequacy of reserves for mortgage repurchase obligations stemming from … Continue reading

Posted in balance sheets, BofA, Citigroup, Countrywide, Federal Home Loan Banks, guest posts, investors, JPMorgan, lawsuits, litigation, mortgage insurers, repurchase, reserve reporting, SEC | 1 Comment

Citigroup Becomes First Lender to Cave to Mortgage Principal Reductions by Bankruptcy Judges


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It’s official: the first domino has fallen. The L.A. Times has reported that Citigroup Inc. has agreed that bankruptcy courts should be allowed to change the terms of mortgages, including ordering reductions in the principal amount of loans, as part … Continue reading

Posted in bailout, bankruptcy, Barack Obama, cheap money, Citigroup, class actions, contract rights, homeowner relief, legislation, loan modifications, recession, Seventh Circuit, TARP, TILA, workouts | 2 Comments