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NY court reinstates banks’ lawsuit against MBIA
ALBANY — New York’s top court on Tuesday reinstated a breach-of-contract lawsuit by a dozen banks challenging MBIA’s state-approved restructuring of its bond-insurance business, concluding the state insurance superintendent’s approval doesn’t prohibit creditor and common-law claims.
State’s top court to hear bond insurance case
ALBANY — An attorney for a dozen banks is urging New York’s top court to reinstate their breach-of-contract lawsuit challenging the state-approved restructuring of MBIA’s bond insurance business, saying they face losses they should be insured against.
Banks offer cash transfers to cell number, email
WASHINGTON — Three of the nation's four largest banks are launching a system that lets customers transfer money from their checking accounts using only a mobile number or e-mail address. The banks say the service, called clearXchange ...
Probe seeks mortgage records, official says
ALBANY — New York Attorney General Eric Schneiderman is seeking records from three major Wall Street banks as part of a broad investigation into the mortgage crisis that fueled the recession, an official familiar with the issue said Tuesday.
Regulators update Congress on financial overhaul
WASHINGTON — Federal Reserve Chairman Ben Bernanke and other regulators gave Congress an update Thursday on their efforts to implement the biggest overhaul of the nation's financial rules since the Great Depression.
Banks repossess 1 million homes in 2010
NEW YORK CITY — The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006.
Caught by mistake in the foreclosure web
Christopher Marconi was in the shower when he heard a loud banging on his door. By the time he grabbed a towel and hustled to his front step, a U.S. marshal’s sedan was peeling out of his driveway. Nailed to Marconi’s front door was a foreclosure summons from Wells Fargo ...
Fed ID’s companies that used crisis loan programs
WASHINGTON, D.C. — The Federal Reserve on Wednesday named the companies that used its emergency loan programs during the financial crisis and revealing how much they borrowed.
Fed orders new ‘stress tests’ for banks
WASHINGTON, D.C. — The nation’s largest banks must undergo new stress tests to show they can weather another recession, and the Federal Reserve said those that pass them can boost dividends paid to investors.
Report: Foreclosure mess could threaten banks
WASHINGTON, D.C. — The disarray stemming from flawed foreclosure documents could threaten major banks with billions of dollars in losses, deepen the disruption in the housing market and hurt the government’s effort to keep people in their homes ...
States’ band together to investigate foreclosure process
The attorneys general of all 50 states and the District of Columbia have banded together to investigate the practice of “robo-signing” and other concerns that have arisen about banks and mortgage processing firms.
Multi-state foreclosure group announced
Iowa Attorney General Tom Miller on Wednesday unveiled the details of the multi-state mortgage foreclosure working group created to review the practice of “robo-signing” and other issues that have arisen against banks and mortgage processing firms.
Case Digests
- Fourth Department – Negligent performance: Rosenthal v. Syracuse University, et al.
- Second Circuit – Visual Artists Rights Act: Kerson v. Vermont Law School Inc.
- NYS Advisory Committee on Judicial Ethics – Former foreclosure referee: Opinion 22-157
- NYS Advisory Committee on Judicial Ethics – College honorarium: Opinion 22-156
- Second Circuit – Reasonable accommodation: Tafolla v. Heilig
- Fourth Department – Labor Law: Primisch v. Peroxychem LLC
- NYS Advisory Committee on Judicial Ethics – Judicial candidacy: Opinion 22-155
- Fourth Department – Defamation: Lavine v. Glavin
- NYS Advisory Committee on Judicial Ethics – Law clerk: Opinion 22-154
- NYS Advisory Committee on Judicial Ethics – Review of another judge’s actions: Opinion 22-153
- NYS Advisory Committee on Judicial Ethics – Charitable contributions: Opinion 22-150
- Second Circuit – Class action settlement: Moses v. The New York Times Company
Law News
- Appeals court upholds conviction
- Federal lawsuit reinstated against jail officer over strip search, delayed release
- Hyzon to pay $25M penalty to settle alleged fraud charges by SEC
- NY appeals court reinstates lawsuit over contract to remove snow
- Fourth Department affirms $400K judgment in contract dispute
- Fourth Department affirms decision in NY property dispute
- Greenlight Networks selects Buffalo-based attorney as general counsel
- Barclay Damon hires attorney Matt Smith
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