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Friday, April 19, 2024

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  • Calif. lawmaker and AG candidate to probe foreclosure crisis

    By Chris Rizo |
    Alberto Torrico (D) LOS ANGELES (Legal Newsline) -- A state lawmaker and Democratic candidate for California attorney general will hold a legislative hearing Monday to probe how loan modification programs are affecting communities of color.

  • Argentinians invoke 1853 treaty in Delaware asbestos suit

    By Steve Korris |
    WILMINGTON, Del. - Three men from Argentina accusing chemical maker DuPont of exposing them to asbestos in Argentina have invoked American jurisdiction pursuant to a treaty that President Franklin Pierce signed in 1853.

  • Cuomo denounces Wall Street's compensation program

    By Keith Loria |
    Andrew Cuomo (D) NEW YORK (Legal Newsline) - New York Attorney General Andrew Cuomo released a comprehensive report Thursday that analyzed 2008 bonuses for the nine banks that received Trouble Asset Relief Program financing from the U.S. government.

  • New York AG signs agreements with two ARS firms‏

    By Nick Rees |
    Andrew Cuomo (D) NEW YORK (Legal Newsline) - New York's attorney general has announced assurances of discontinuance with two securities firm that detail how they have and will provide liquidity to investors who purchased auction-rate securities.

  • Coakley reaches settlement with Merrill Lynch

    By Ashley Stinnett |
    Martha Coakley (D) BOSTON (Legal Newsline)- Massachusetts Attorney General Martha Coakley has reached a settlement with Merrill Lynch over claims the company misled the city of Springfield into unlawfully investing into auction-rate securities.

  • U.S. Supreme Court: State AGs may probe national lending practices

    By Chris Rizo |
    U.S. Supreme Court building WASHINGTON (Legal Newsline)- State attorneys general can investigate national banks but they cannot on their own subpoena financial institutions that have branches in other states, the U.S. Supreme Court ruled Monday.

  • California sues Wells Fargo over alleged investor fraud

    By Staff reports |
    Jerry Brown (D) SAN FRANCISCO (Legal Newsline) - California Attorney General Jerry Brown filed a massive $1.5 billion suit against San Francisco-based banking giant Wells Fargo on Thursday.

  • Investment firms fined by Delaware officials

    By Nick Rees |
    WILMINGTON, Del. (Legal Newsline) - Misleading investors about the safety of the auction rate securities market has lead to fines of more than $309,000 for two investment firms in Delaware.

  • U.S. SC to decide legality of N.Y. AG's investigation

    By John O'Brien |
    Spitzer WASHINGTON (Legal Newsline) - The U.S. Supreme Court has decide to consider if New York Attorney General's Office should be investigating the mortgage lending practices of some national banks.

  • Fannie, Freddie ride foreclosure freeze tide

    By Staff reports |
    WASHINGTON (Legal Newsline)--As Capitol Hill remains under siege from all sides of America's faltering economy, pressure to stem the tide of foreclosures continued to make inroads as Fannie Mae and Freddie Mac became the latest to join the foreclosure freeze movement.

  • Obama moves foreclosure crisis center stage

    By Staff reports |
    Barack Obama (D) WASHINGTON (Legal Newsline)-Beleaguered homeowners received a powerful boost when President-elect Barack Obama said confronting the housing crisis will be one of his first orders of business upon taking office in January.

  • Cuomo: Citigroup executives should forgo bonuses

    By Chris Rizo |
    NEW YORK (Legal Newsline)-Citigroup should eliminate bonuses for its top executives, New York Attorney General Andrew Cuomo said after the financial services company announced it was cutting an additional 53,000 jobs.

  • Citigroup enacts moratorium on foreclosures

    By Staff reports |
    NEW YORK (Legal Newsline) -- Citigroup became the latest financial giant to take measures designed to assist troubled homeowners in danger of losing their homes to foreclosure, according to published reports.

  • Cuomo keeping a close eye on Wall Street firms

    By John O'Brien |
    Cuomo ALBANY, N.Y. (Legal Newsline) - American International Group won't be the only bailout beneficiary being watched by New York Attorney General Andrew Cuomo.

  • State AG's target Wall Street

    By Chris Rizo |
    Andrew Cuomo (D) WASHINGTON (Legal Newsline)-Long before Congress began considering a rescue plan for the U.S. financial markets, a small group of state attorneys general were decrying what they called unscrupulous activities by some Wall Street firms.

  • BofA agrees to buy back $4.5 billion in auction-rate securities

    By Chris Rizo |
    BOSTON (Legal Newsline)-Bank of America Corp. on Wednesday agreed to buy back $4.5 billion of auction-rate securities, under a settlement with Massachusetts Secretary of the Commonwealth William Francis Galvin.

  • BofA prepared to settle auction-rate securities probe

    By Chris Rizo |
    NEW YORK (Legal Newsline) - Bank of America Corp. says it's ready to settle investigations into its marketing of auction-rate securities.

  • Merrill Lynch settles with N.Y.

    By John O'Brien |
    Cuomo NEW YORK (Legal Newsline) - Facing a possible lawsuit from New York Attorney General Andrew Cuomo, Merrill Lynch & Co. agreed Thursday to buy back the auction rate securities it had sold before the ARS market collapsed in February.

  • While Cuomo waits, Merrill Lynch settles Mass. claims

    By John O'Brien |
    Merrill Lynch BOSTON (Legal Newsline) - Another seller of auction rate securities has settled allegations that it misled customers.

  • Cuomo keeps momentum in ARS probe

    By John O'Brien |
    Cuomo NEW YORK (Legal Newsline) - Wachovia has joined the group of auction rate securities sellers that has returned billions of dollars to investors as a result of New York Attorney General Andrew Cuomo's investigation.