{"id":5958,"date":"2016-05-07T00:00:00","date_gmt":"2016-05-07T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/05\/four_credit_suisse_bankers_acc"},"modified":"2022-03-22T15:07:01","modified_gmt":"2022-03-22T20:07:01","slug":"four-credit-suisse-bankers-acc","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/four-credit-suisse-bankers-acc\/","title":{"rendered":"Four Credit Suisse Bankers Accused of Unauthorized Trading in Rich Clients\u2019 Accounts, Bank of America Settles Mortgage Case for $190M, and Goldman Sachs to Pay Illinois Pension Fund $272M"},"content":{"rendered":"

Bank of America to Pay Federal Home Loan Bank of Seattle $190M<\/strong>
\nBank of America Corp. <\/a>will pay $190M to resolve mortgage-backed securities fraud charges brought by the Federal Home Loan Bank of Seattle. The SEC filing stated that the settlement was reached last month and that most of it was previously accrued. The lawsuit alleged misstatements and omissions during the issuance of MBSs.<\/p>\n

It was just earlier this year that Bank of America\u2019s Merrill Lynch and 10 other banks agreed to pay over $63M to resolve accusations that they misrepresented residential mortgage-backed securities to the Virginia Retirement System and the state of Virginia.<\/p>\n

\nJudge Approves $270M Mortgage-Backed Securities Fraud Settlement Involving Goldman Sachs<\/strong>
\nA federal judge has approved the proposed settlement between Goldman Sachs (GS) and lead plaintiff NECA-IBEW Health & Welfare Fund, as well as 400 bondholders and another electrical union pension fund. The Illinois pension fund for electrical workers brought the case in 2008, accusing the firm of leaving out key information and making false statements about the mortgages it sold into 17 trusts the year before. <\/p>\n

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

Bank of America to Pay Federal Home Loan Bank of Seattle $190M Bank of America Corp. will pay $190M to resolve mortgage-backed securities fraud charges brought by the Federal Home Loan Bank of Seattle. The SEC filing stated that the settlement was reached last month and that most of it was previously accrued. The lawsuit […]<\/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":[3751,3817,3752,3947,3757,3957],"tags":[],"class_list":["post-5958","post","type-post","status-publish","format-standard","hentry","category-bank-of-america","category-credit-suisse","category-financial-firms","category-goldman-sachs","category-mortgagebacked-securities","category-pension-funds"],"yoast_head":"\nFour Credit Suisse Bankers Accused of Unauthorized Trading in Rich Clients\u2019 Accounts, Bank of America Settles Mortgage Case for $190M, and Goldman Sachs to Pay Illinois Pension Fund $272M — Investor Lawyers Blog — May 7, 2016<\/title>\n<meta name=\"description\" content=\"Bank of America to Pay Federal Home Loan Bank of Seattle $190M Bank of America Corp. will pay $190M to resolve mortgage-backed securities fraud charges — May 7, 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