Federal Reserve Bank of New York

  • Federal Reserve Bank of New York president criticizes Wall Street culture

    William C. Dudley says that big banks’ misdeeds are indicative of a problem with the larger financial industry rather than simply a few bad actors.

  • Greenberg’s bailout suits against U.S. government face legal challenges

    Former American International Group Inc. CEO Maurice Greenberg’s $25 billion lawsuit against the U.S. government and the Federal Reserve Bank of New York filed in mid-November has become a significant takings case challenging legal precedents.

  • BofA seeking shield from further suits

    Just days after news broke that Bank of America (BofA) is facing a new lawsuit from 15 former Countrywide Financial Corp. investors that lost money during the housing collapse comes word that the company is now looking to the government for help shielding itself from further litigation.

  • BofA still bleeding from Countrywide conundrum

    Things continue to worsen for Bank of America (BofA). After hoping to quell the disquiet from former Countrywide Financial Corp. investors that lost money during the housing collapse with an $8.5-billion settlement last month, BofA is facing a new suit from 15 plaintiffs that believe the agreement is unfair.

  • Bank of America closing on $8.5 billion settlement

    Dominoes from the U.S. housing collapse continue to fall. Coming just a week after reports surfaced that Bank of America Corp. (BofA) faced lawsuits from union and public employee retirement funds due to losses on mortgage-backed securities, BofA yesterday announced it has agreed to pay $8.5 billion to settle claims...

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