One of the more unusual trials to come out of the 2008 financial crisis is set to begin on Monday, when a federal judge will consider whether the U.S. government’s rescue of American International Group Inc was, in fact, legal. …
U.S. Attorney General Eric Holder last Wednesday called for Congress to take steps to help prosecutors build criminal cases against senior Wall Street executives, saying companies often insulated their leaders from responsibility for misconduct. In a speech before New York …
Two U.S. lawmakers on Wednesday unveiled a new bill that would force enforcement agencies to provide more details about deals to resolve corporate misconduct by U.S. companies. Senators Elizabeth Warren, the Massachusetts Democrat and a fierce consumer advocate, and Tom …
The U.S. Department of Justice appeared to have struck gold last week with the law it wielded against one of the nation’s largest banks over conduct that fueled the financial crisis. To convince a jury that Bank of America engaged …
Federal Reserve Chairman Ben Bernanke does not have to testify in the multibillion-dollar lawsuit by the former chief of American International Group Inc. against the United States over the insurer’s 2008 bailout, a federal appeals court said on Wednesday. The …
A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp. over its sale of toxic mortgages to Fannie Mae and Freddie Mac, boosting a largely untested legal theory …
A federal judge handed a legal defeat to Standard & Poor’s, ruling that a lawsuit in which Connecticut accused it of fraudulently inflating credit ratings to win business should be moved back to the state court where it began. In …
Standard & Poor’s asked a federal judge on Monday to dismiss a U.S. Justice Department civil suit against the rating agency, arguing the government’s case is based on vague statements that cannot be used to prove fraud. In a $5 …
The U.S. Securities and Exchange Commission is experimenting with punishments that more closely fit the wrongdoing at issue in a bid to give its enforcement cases more bite. Criticized for its traditional practice of a broad ban on wrongdoers breaking …
A top U.S. bank regulator on Tuesday offered a lengthy defense of entering into settlements with banks, taking a swipe at critics who have questioned whether regulators are aggressive enough in taking banks to trial. Comptroller of the Currency Thomas …
