Fed Expands Asset Purchases to Boost Markets
“We are now in QE infinity, again,” a CIO says after the Fed announced unlimited asset purchases in response to the coronavirus crisis.
Nomura to Pay Misled Bond Customers $25 Million
The SEC said traders made misleading statements and the bank failed to properly monitor them.
RBS to Settle RMBS Claims for Record $4.9B
The Justice Department says the penalty is the largest it has ever imposed for financial crisis-era misconduct at a bank.
Dollars, Deficits, and “Duh” in Davos
Under current U.S. fiscal policy, federal budget deficits are doomed to continue racing upward with no end in sight, investment consultant says.
RBS Settles California MBS Case for $125M
“RBS decided to mislead California’s pension funds in order to line its own pockets — plain and simple,” California's attorney general says.
Ex-Deutsche Trader Accused of RMBS Fraud
The bank's former head of subprime trading allegedly misrepresented the quality of securitized loans to protect Deutsche's bottom line and his own salary.
RBS Settles Suit Over Toxic RMBS for $5.5B
"This settlement is a stark reminder of what happened to this bank before the financial crisis," the bank's CEO says.
U.S. Sues Barclays Over $30B in Toxic RMBS
Due diligence vendors described some of the loans underlying the securities as having the “distinct aroma of default.”
Pimco Fined $20M for Overvaluing Securities
The SEC says Pimco pursued a pricing strategy that misled investors about the initial performance of an exchange-traded fund in 2012.
RBS Agrees to $1.1B Settlement of MBS Claims
The regulator of federal credit unions has now recovered $4.3 billion from financial institutions over sales of toxic mortgages.
JPMorgan to Pay Insurer $995M in MBS Case
The settlement “validates our resolve and reinforces our confidence in our remaining RMBS-related cases," said Ambac's CEO.