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By Heather Anderson |
May 8, 2013
In a sweeping order that delays proceedings on eight pending NCUA lawsuits against Wall Street banks over mortgage backed securities sold to failed corporate credit unions, U.S. District Judge John W. Lungstrum said April 29 that he will wait for the result of a related appeals court ruling, citing concerns...
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By Heather Anderson |
April 30, 2013
Kansas City judge says he'll wait for appeals court decision on bid to dismiss claims over failed securities.
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By Heather Anderson |
April 10, 2013
The NCUA reported April 2 that it scored a $165 million win against Wall Street, reaching a settlement with Bank of America over residential mortgage-backed securities losses at failed corporate credit unions. Bank of America did not admit fault as part of the settlement, the NCUA said in a release.
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By Heather Anderson |
April 2, 2013
Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.
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By Marc Rapport |
January 4, 2013
J.P. Morgan, others named in sale of $2.2 billion in failed mortgage-backed securities that led to collapse of WesCorp, U.S. Central and Southwest Corporate.
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By Heather Anderson |
July 16, 2012
The Libor price-fixing scandal, in which the London-based bank and financial services company Barclays manipulated Libor submissions to give a healthier picture of the bank’s credit quality in 2007 and 2008, has had little material effect on credit unions, according to industry experts. However, corporates that owned Libor-indexed assets during...
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July 16, 2012
A loan participation suit filed two years ago against the defunct Eastern Financial Florida Credit Union to recoup millions in losses will not include Space Coast Credit Union, a federal court recently ruled.
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By Michelle A. Samaad |
July 9, 2012
Federal court says not enough merit to proceed in case over participation loan losses.
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By Michelle A. Samaad |
May 29, 2012
Several Wall Street banks and credit rating agencies are claiming that the former Eastern Financial Florida Credit Union knew the risks going in before investing in $100 million in collateralized debt obligations.
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By Michelle A. Samaad |
May 18, 2012
The risks tied to collateralized debt obligations remains the focal point of Space Coast Credit Union’s lawsuit against Wall Street banks and credit raters.
