Items Tagged with 'New York Attorney General'

ARTICLES

  • RBS meets $400 million consumer relief goal by handing out $130 million in relief

    Bank completes consumer relief portion of its $500 million settlement with New York
    Just six months after the Royal Bank of Scotland reached a $500 million settlement with the state of New York over the bank’s mortgage practices in the run-up to the housing crisis, RBS has reached the settlement’s $400 million consumer relief goal, by providing just under $130 million in actual relief.
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  • Federal judge finalizes $25 million Trump University settlement

    Schneiderman: Victims of fraudulent university will finally receive relief
    Participants in President Donald Trump’s failed real estate school will soon be able to receive their share of the $25 million settlement Trump reached with the state of New York back in 2016. New York Attorney General Eric Schneiderman announced Monday that District Court Judge Gonzalo Curiel issued an order that finalizes the settlement, which stemmed from a lawsuit filed by Schneiderman’s office in 2013.
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  • UBS reaches $230 million settlement with New York over toxic mortgage bonds

    Required to provide $189 million in consumer relief
    For the second time this month, the state of New York has reached a massive settlement with a bank that ends in “BS.” First, RBS reached a $500 million settlement with the state. Now, UBS agreed to a $230 million settlement covering UBS' mortgage bond activities in the run-up to the financial crisis.
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  • RBS reaches $500 million settlement with New York over crisis-era mortgage practices

    Will provide $400 million in consumer relief to state’s residents
    New York Attorney General Eric Schneiderman announced this week that RBS agreed to a $500 million settlement with the state for the bank’s “deceptive practices and misrepresentations to investors in connection with the packaging, marketing, sale, and issuance of residential mortgage-backed securities” leading up to the financial crisis.
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  • Morgan Stanley completes $400M consumer relief obligation for $3.2B mortgage settlement

    Settlement required company to provide relief to New Yorkers
    Morgan Stanley recently completed its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year. The settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide consumer relief for New York residents affected by the company’s alleged actions.
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  • New York Attorney General pushes Experian and Transunion for answers on cybersecurity

    Eric Schneiderman questions companies' security after Equifax breach
    New York Attorney General Eric Schneiderman is already investigating the massive data breach at Equifax that exposed the personal information of 143 million U.S. consumers. Now, New York’s top cop wants to make sure that a similar incident doesn’t take place at the other two of the big three credit reporting agencies – Experian and Transunion.
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  • CFPB, House Financial Services Committee begin investigating Equifax data breach

    Congressional hearings are coming
    The fallout from Equifax’s massive data breach that exposed the personal information of 143 million U.S. consumers is just beginning. In the wake of the company’s announcement, the Consumer Financial Protection Bureau, the House Financial Services Committee, and the office of New York Attorney General Eric Schneiderman stated that each is launching an investigation into the breach.
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  • New York awards $10 million to 18 cities to fight neighborhood blight

    Money comes from financial crisis settlements
    Over the last several years, the state of New York has undertaken a multi-pronged approach to fight the blight that took place in many neighborhoods throughout the state in the wake of the housing crisis. And Monday, the office of New York Attorney General Eric Schneiderman announced that it is launching a new program and awarding $10 million over the next two years to 18 cities to be used for neighborhood revitalization.
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  • Long Island community with Nazi-linked past ordered to end housing discrimination

    New York AG claims that community only allowed whites of German heritage
    A Long Island community with a history of connections to the Nazi Party must end its practice of only allowing whites of German heritage to buy a home in the area, the New York Attorney General declared on Wednesday. Here are the details on the German American Settlement League, a community in Yaphank, New York.
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  • NY AG charges landlord for $5 million mortgage fraud scheme

    Investigation led by the Tenant Harassment Prevention Task Force
    Uncovering a $5 million mortgage scheme, New York Attorney General Eric Schneiderman charged Dean Galasso, 49, a New York City landlord with multiple properties in Manhattan and Queens, after discovering he fraudulently tried to obtain a mortgage to finance the purchase of a rental building. The discovery led to six charges total.
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