The definition of what or will not constitute a qualified residential mortgage may be the most important and least appreciated or understood financial regulation facing credit unions this year.
This look at a key Aug. 1 deadline is just one of the articles that will appear in the next edition of Credit Union Times.
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...
NCUA is "just another disgruntled investor" to JP Morgan Securities, attorneys say after investment house settles with SEC.
The Dodd-Frank Act has given the Securities and Exchange Commission power to create a new whistleblower program.
The $3.1 billion Space Coast Credit Union has filed a suit against two investment firms over the alleged misrepresentation of a collateralized debt obligation that the cooperative said led to financial losses.
A Massachusetts subprime auto lender has been charged with allegedly collecting $110 million through the sales of unregistered securities notes.
A Massachusetts subprime auto lender has been hit with SEC charges for allegedly collecting $110 million in unregistered notes.
Around Valentine’s Day three years ago, holders of auction rate securities fell completely out of love with the debt instruments, causing a market freeze and a slew of lawsuits against the banks with claims of misrepresentation. The fallout continues.
The NCUA has threatened to sue four investment banks if they don’t refund $50 billion from the sale of mortgage-backed securities to five corporate credit unions that the agency conserved last year, according to several sources within the credit union industry.