municipal bonds

Philadelphia Sues Banks for Bond Rate Collusion
Risk & Compliance

Philadelphia Sues Banks for Bond Rate Collusion

The city says seven big banks conspired to inflate rates on VRDO bonds so they could "continue to collect re-marketing fees for doing nothing."
By Matthew Heller | February 22, 2019
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Will Ratings Agency Downgrades Haunt Connecticut?
Risk

Will Ratings Agency Downgrades Haunt Connecticut?

'Connecticut has less flexibility to meet unanticipated revenue shortfalls,' said Standard & Poor's.
By Matthew Heller | May 19, 2016
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N.Y. Town Officials Accused of Bond Fraud
Risk & Compliance

N.Y. Town Officials Accused of Bond Fraud

Prosecutors say it is the first criminal case to allege accounting fraud against city officials in connection with the sale of municipal bonds.
By Matthew Heller | April 15, 2016
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Atlantic City Crisis Threatens Other N.J. Cities: Moody’s
Credit

Atlantic City Crisis Threatens Other N.J. Cities: Moody’s

New Jersey's "posture toward Atlantic City reduces the likelihood that it would rescue other financially distressed cities," the rating agency warns.
By Matthew Heller | April 7, 2016
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Lacking Investment Yields, AIG Zeroes in on Profits
Risk Management

Lacking Investment Yields, AIG Zeroes in on Profits

AIG Commercial CEO Rob Schimek seeks a bigger bottom line in an era of low investment gains.
By David Katz | March 23, 2016
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Pitch Imperfect: SEC Sues Over Bonds Tied to Schilling Startup
Risk

Pitch Imperfect: SEC Sues Over Bonds Tied to Schilling Startup

The SEC says a Rhode Island agency and its underwriter defrauded investors in a municipal bond offering that financed Curt Schilling's video game company.
By Katie Kuehner-Hebert | March 8, 2016
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Chicago Issues Debt to Cover Pension Shortfall
Risk

Chicago Issues Debt to Cover Pension Shortfall

A property tax increase helped shore up the city's police and fire fighter pensions, but the Windy City is still cash strapped.
By Katie Kuehner-Hebert | January 12, 2016
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SEC Fines Muni Bond Underwriters $9.3M
Risk & Compliance

SEC Fines Muni Bond Underwriters $9.3M

Major U.S. investment banks sold municipal bonds using offering documents that contained materially false statements or omissions, the SEC says.
By Matthew Heller | June 18, 2015
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