Banking Misconduct Blog

Earlier this week, a federal judge in Manhattan gave a green light to a lawsuit filed by an investor against Bank of New York Mellon. The investor claims it lost over $1 billion because of BNY Mellon’s poor performance as trustee over several Residential Mortgage Backed Securities (RMBS)...

Wells Fargo is still reeling after a Houston jury slapped the company with a $5.4 million judgment. The jury ruled against the bank and its mortgage servicer in residential foreclosure case involving a Texas couple. The bank had originally sued for foreclosure but the couple shot back with their...

By now, everyone knows that that many of the Residential Backed Mortgage Securities (RMBS) packaged and sold in the run up to the 2007 financial crisis were junk. There have been many suits against the issuers of these securities. The results have been mixed. Recently, however, the FDIC has set its...