United States:
Bank To Pay $4.9 Billion To Settle RMBS-Related Claims
22 August 2018
Cadwalader, Wickersham & Taft LLP
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A foreign banking organization agreed to pay $4.9 billion to resolve DOJ
claims related to the underwriting and issuance of residential
mortgage-backed securities between 2005 and 2008. The bank agreed
to cooperate with authorities. The agreement states that "the Settlement
Amount is a civil monetary penalty recovered pursuant to the Financial Institutions, Reform, Recovery and
Enforcement Act of 1989 ("FIRREA")." The bank
made no admission of liability in connection with the
settlement.
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