{"id":5808,"date":"2015-06-06T00:00:00","date_gmt":"2015-06-06T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/06\/doj_prepares_mortgage_fraud_ca"},"modified":"2022-05-06T15:46:48","modified_gmt":"2022-05-06T20:46:48","slug":"doj-prepares-mortgage-fraud-ca","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/doj-prepares-mortgage-fraud-ca\/","title":{"rendered":"DOJ Prepares Mortgage Fraud Cases Against More Banks"},"content":{"rendered":"

According to the Wall Street Journal<\/em>, the U.S. Department of Justice and state officials are readying more mortgage fraud cases against up to nine banks, with resolutions against Morgan Stanley (MS) and Goldman Sachs Group (GS) possibly finalized as early as later this month. Most negotiations are reportedly in the earlier stages and could go on for months.<\/p>\n

The cases are over residential mortgage-backed securities that fell in value during the economic crisis. Individual securities cases are expected rather than a collective agreement. Other banks that are expected to settle include Credit Suisse Group AG (CS), Barclays PLC (BARC), HSBC Holdings PLC, Deutsche Bank AG (DB), UBS AG (UBS)<\/a>, Royal Bank of Scotland Group PLC (RBS), and Wells Fargo & Co. (WFC).Settlements could range in size from a few hundred million dollars to up to $3 billion depending on the extent of misconduct allegedly involved.<\/p>\n

Also likely to be involved least some of the RMBS cases are the attorneys general of Illinois, Massachusetts, New York, and other states that also took part in the earlier rounds of RMBS fraud cases against banks.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to the Wall Street Journal, the U.S. Department of Justice and state officials are readying more mortgage fraud cases against up to nine banks, with resolutions against Morgan Stanley (MS) and Goldman Sachs Group (GS) possibly finalized as early as later this month. Most negotiations are reportedly in the earlier stages and could go […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3947,3787,4001,3757],"tags":[],"class_list":["post-5808","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-goldman-sachs","category-morgan-stanley","category-mortgage-fraud","category-mortgagebacked-securities"],"yoast_head":"\nDOJ Prepares Mortgage Fraud Cases Against More Banks — Investor Lawyers Blog — June 6, 2015<\/title>\n<meta name=\"description\" content=\"According to the Wall Street Journal, the U.S. Department of Justice and state officials are readying more mortgage fraud cases against up to nine banks, — June 6, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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