2008 financial crisis News

Banks Say Settlements Aren’t Slowing Financial Crisis Liability Suits

As U.S. authorities seek to make Wall Street pay for its role in triggering the financial crisis more than four years ago, banks are starting to fight back, frustrated that they are being asked to pay more than once for …

Justice Department Testing Little-Used Law in Financial Crisis Cases

An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used statute that may make such cases easier to bring, according to people familiar with the matter. The federal statute, FIRREA, was …

Connecticut Urges Other States to Sue Credit Rating Agencies

Connecticut officials are encouraging other states to consider suing credit-rating agencies that gave high grades to risky mortgage-backed securities that plummeted in value when the housing market collapsed in 2007-2008. Connecticut Attorney General George Jepsen’s office on Wednesday briefed other …