Category Archives: litigation
Seventh Circuit Disallows Class Actions for TILA Violations
In August, I wrote about a major Seventh Circuit ruling on the way that could open the doors for borrowers to file class actions against mortgage lenders to rescind their loans. On September 24, the Seventh Circuit issued its ruling, … Continue reading
Not-So-Free Market: Group of Large Hedge Funds Expected to Sue FSA Over Short-Selling Ban
Thanks to Bryan Carter and the Tuscan Group for passing along this article on the litigation expected to arise from the U.K. regulator’s decision to ban short-selling for financial company stocks. On September 18, England’s Financial Services Authority (FSA) announced … Continue reading
Indiana Piles On
Indiana Attorney General Steve Carter has brought a lawsuit against Countrywide Financial Corp., making it the latest of a half dozen states going after the nation’s former number one mortgage lender for improper lending practices (see Reuters article here). This … Continue reading
Countrywide Sued by New Mexico Pension and Investment Funds
The Chicago Times reports that Countrywide has been sued on behalf of New Mexico’s state Investment Council, the Educational Retirement Board and the Public Employees Retirement Association for both conning homeowners into mortgages they could not afford and duping investors … Continue reading
Connecticut Suit Against Countrywide Available
Rachel Dollar of the Mortgage Fraud Blog has posted the Complaint filed by Connecticut Attorney General Richard Blumenthal. You can view the document here. Many thanks to Ms. Dollar for her diligence in following these developments in subprime litigation.
