Items Tagged with 'Illinois Attorney General Lisa Madigan'

ARTICLES

  • Wells Fargo to pay $17 million to Illinois pension funds over crisis-era mortgage bonds

    Brings state’s total recovery to more than $500 million
    Wells Fargo will pay more than $17 million to a series of Illinois pension funds after settling with the state over the bank’s “misconduct in its marketing and sale of risky residential mortgage-backed securities leading up to the 2008 economic collapse,” Illinois Attorney General Lisa Madigan announced this week.
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  • Diamond Residential Mortgage to pay $1.28 million after rogue branch manager defrauds homebuyers

    Settlement with Illinois also places company on probation for 3 years
    Diamond Residential Mortgage Company, which is based in Lake Forest, Illinois and has branches in Illinois, Indiana, Michigan, Wisconsin, Missouri, Georgia, Texas, Colorado, California, and Washington, will pay $1.28 million to consumers who were defrauded by Chris Schaller, who ran the company’s Springfield, Illinois branch.
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  • RBS to pay $20 million to Illinois pension funds over crisis-era mortgage bonds

    New settlement is bank’s eighth such settlement in recent years
    For the third time this year, the Royal Bank of Scotland is about to pay up over the bank’s mortgage practices in the run-up to the housing crisis. RBS has already reached a nearly $5 billion settlement with the Department of Justice and a $500 million settlement with the state of New York. Now, the bank has agreed to a new $20 million settlement with the state of Illinois.
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