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.
The Aug. 31 deadline for capitalizing – a date self-imposed by multiple corporate credit unions – is here. Who’s left standing? Who is folding?
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.
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...
Rumors swirled Monday that U.S. Central Bridge had tumbled deep into a “liquidity crisis,” as one Credit Union Times source put it.
Corporate America and accounting firm RubinBrown LLP have entered into a confidential settlement to end their dispute arising in the aftermath of the U.S. Central collapse, according to sources close to the matter.
When one of Thomas Bonds’ staffers recently pulled him aside with a grim expression on her face and said that he was needed in another part of the building, the mind of the president/CEO of Corporate America Credit Union started to race.
The merger rhetoric on corporates brought a fresh call last week from the retired head of the California-Nevada Credit Union Leagues, David Chatfield, that three already conserved corporates be consolidated.
Credit unions may soon have another alternative for their payment system processing through a new CUSO scheduled for launch by the corporate credit union network.