The NCUA has failed to prove that J.P. Morgan Securities the firm made “material misrepresentations” to the corporate credit unions when selling them residential mortgage-backed securities, according the firm’s court filing. And with that J.P. Morgan asked a federal judge to dismiss the agency’s June lawsuit against it.
Investment house says it informed corporates of risk.
Investment bank giant pulls out of sponsorship of Lower East Side People's FCU event.
Legal field against some big banks getting crowded.
Last week, the NCUA added to its list of targets by suing Goldman Sachs for $491 million for losses corporates endured due to mortgage-backed securities. This is the fourth suit filed by the NCUA against securities firms, seeking a total of $2 billion in damages.
U.S. Central peaked out at $2.8 billion, N.C. State Employees' at $489 million, WesCorp averaged $100 million a day.
The NCUA sued investment bank Goldman Sachs last week, seeking damages of more than $491 million and alleging misrepresentations by the firm when selling mortgage-backed securities to U.S Central and Western Corporate credit unions.
Agency adds to list of actions filed against investment banks in wake of corporate collapses.
SAN ANTONIO — Be interdependent and learn from your mistakes, engage your customers and innovate but be careful what risks you take.
See you in court. After failing to reach an agreement with two of the largest investment bank to recover losses from mortgage-backed securities sold to corporate credit unions, the NCUA last week filed civil lawsuits against RBS Securities, a Royal Bank of Scotland unit, and J.P. Morgan Securities. The agency is...