Articles by Dena Aubin

Wells Fargo Sued Over Charges for Mortgage Interest Rate Lock

A homeowner has filed a lawsuit accusing Wells Fargo & Co. of improperly charging thousands of customers nationwide to lock in interest rates when their mortgage applications were delayed. Filed on Monday in San Francisco federal court, the lawsuit said …

JPMorgan Must Face Discrimination Claim by Arab-American Family Business

An Arab-American family whose business and personal bank accounts were closed in 2014 without explanation can sue JPMorgan Chase for racial discrimination, a federal judge in Detroit has ruled. Filed in February, the lawsuit by Najah Manni, his wife Kathy …

Authors, Backers of Dodd-Frank Criticize Court for Cutting MetLife ‘Too-Big-To-Fail’ Tag

A federal court’s striking down of the government’s designation of insurer MetLife Inc as “too-big-to-fail” could undermine efforts to head off another financial crisis, authors of the landmark Dodd-Frank Wall Street reform law said. In a brief filed on Thursday …

Accountants to Face Malpractice Claims in Alabama’s Colonial Bancorp Failure

Accounting firms PricewaterhouseCoopers and Crowe Horwath must face a lawsuit accusing them of professional malpractice and breach of contract for not catching a fraud that led to the 2009 collapse of Colonial Bank, a federal judge has ruled. Filed in …

JP Morgan, Assurant Settle Force-Placed Insurance Claims for $300M

JPMorgan Chase & Co and a major insurer have agreed to a $300 million settlement to resolve accusations that they forced homeowners into over-priced property insurance and entered into kickback arrangements that inflated the policies’ prices. The lawsuit being settled …

P/C Insurers Question Need for Insurance Accounting Overhaul

The biggest overhaul of insurance accounting in 30 years advanced a step on Thursday with the release of a proposal that some insurers fear could make their profits more volatile. In a move to align financial statements worldwide, the U.S. …

A Decade Later: Is Sarbanes-Oxley Working?

When Peregrine Financial collapsed in July, a nagging question resurfaced. As in the implosion of Lehman Brothers, the fall of Bernard Madoff and other cases in recent years, many asked: Where were the accountants? That this question still arises could …

A Decade Later: Is Sarbanes-Oxley Working? – Analysis

When Peregrine Financial collapsed earlier this month, a nagging question resurfaced. As in the implosion of Lehman Brothers, the fall of Bernard Madoff and other cases in recent years, many asked: Where were the accountants? That this question still arises …

U.S. Court Fight May Not Solve Chinese Accounting Mess

U.S. regulators appear to be on strong footing in a legal battle over a Chinese auditor’s work papers, though their ability to act may have limits and a victory in court may not resolve a widening international accounting mess. At …

Shareolders Using ‘Say-on-Pay’ Votes in Lawsuits Against Boards

Shareholders upset with ever-higher executive compensation packages are using new “say-on-pay” votes to challenge the payouts in court, a tactic raising eyebrows among legal experts. The lawsuits are zeroing in on companies that lose these advisory votes by shareholders on …