Kumbaya at last? UBS AG and “several” of its United States-based affiliates have agreed to pay the United States Department of Justice $1.435 billion to settle their RMBS dispute, which dates to 2006-2007. In other words, just before the first rumblings of the Great Recession. Which was when we all learned that RMBS stands for… Read More >>
Morgan Stanley’s RMBS Penalty Payments Hit $5 Billion
Morgan Stanley faces a total tally of $5 billion in penalties as it settles claims with federal and state government authorities over charges that the firm misled investors via its marketing, sale and issuance of residential mortgage-backed securities (RMBS) during the years leading up to the Great Recession. The penalties and related payments stem from… Read More >>
Goldman Sachs to Pay $5.2 Billion to Settle Key Cases
The Goldman Sachs Group will be writing a lot of checks during 2016 as it has agreed to separate settlements with the SEC and the Residential Mortgage-Backed Securities Working Group of the U.S. Financial Fraud Enforcement Task Force (RMBS Working Group) that will likely total approximately $5.2 billion, and will impact the firm’s bottom line…. Read More >>
