A newly filed class action lawsuit alleges that the online lender used keystroke loggers to collect personal information from visitors to their website.
Read More »JPMorgan Settles 401(k) Suit Tied to MBS
The settlement, pertaining to a 2012 class-action suit, is now awaiting approval by a U.S. district judge.
Read More »BlackRock Seeks $3B in Damages from HSBC
BlackRock Inc., along with 23 other investors of residential mortgage-backed securities, petitioned New York federal Judge Lorna G. Schofield to hear oral arguments to advance their case to class status as they seek to collect over $3 billion in lost assets from HSBC. The initial suit claims that HSBC did not do its due diligence in protecting certificate holders, and that they failed to ensure the home loans being sold from mortgage originators and sponsors to the trust were only selling debt from credit-worthy borrowers. The plaintiff’s claim that HSBC’s direct neglect was the cause of loses when default rates hit their peak during the housing crisis.
Read More »Judge’s Ruling Paves Way For Class-Action Suit against JPMorgan Chase
A judge ruled on Wednesday that investors' claims in nine separate offerings for $10 billion worth of residential mortgage-backed securities (RMBS) were similar enough for the investors to proceed as a class for a potential lawsuit against JPMorgan Chase.
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