GE’s Subprime Loan Business Files Chapter 11
WMC Mortgage sought bankruptcy protection to resolve remaining legal liabilities over defective loans it originated before the 2008 financial crisis.
HSBC to Pay $765M in Toxic RMBS Settlement
The Department of Justice says bank employees ignored the warnings of its primary due diligence vendor about the quality of loans underlying its RMBS.
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.
Deutsche, Credit Suisse Settle MBS Cases for $12B
The settlements with U.S. authorities ease investor concerns over the impact of the MBS scandal on the shaky European banking industry.