FIRREA Archives - Carrier Management

FIRREA: Government’s Key Weapon in Financial Fraud Cases

The U.S. Department of Justice appeared to have struck gold last week with the law it wielded against one of the nation's largest banks over conduct that fueled the financial crisis. To convince a ...

Bank of America Liable for Countrywide Mortgage Fraud

Bank of America Corp. was found liable for fraud on Wednesday over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the few trials stemming from the ...

U.S. Banks’ $100 Billion Legal Tab for Financial Crisis Exceeds Combined Profit

The six biggest U.S. banks, led by JPMorgan Chase & Co. and Bank of America Corp., have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to ...

U.S. Gets Green Light to Sue BofA Over Mortgages Under Untested Theory

A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp. over its sale of toxic mortgages to Fannie Mae and Freddie Mac, boosting a ...

U.S. Can Sue BNY Mellon Over Currency Trades; Mortgage Cases To Test Same Law

A federal judge said on Wednesday the U.S. government can proceed with a lawsuit accusing Bank of New York Mellon Corp of overcharging clients for trading currencies, a case brought under a ...