Items Tagged with 'Barclays'


  • Barclays agrees to pay $2 billion to settle crisis-era RMBS fraud charges

    Two subprime mortgage bond traders also fined $2 million
    Barclays Capital will pay $2 billion to the federal government to settle charges brought against the bank by the Department of Justice, which accused the company of misleading investors about the quality of the underlying subprime and Alt-A mortgages in $31 billion in mortgage bonds, which, as the DOJ put it, “proved to be catastrophic failures.”
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  • SEC: Barclays Capital to pay $16.5 million to settle RMBS fraud charges

    Two mortgage bond traders suspended for lying to clients
    Barclays Capital will fork over more than $16.5 million as part of a settlement stemming from allegations that the company did not properly supervise two of its former mortgage bond traders who allegedly lied to and overcharged clients, the Securities and Exchange Commission announced this week.
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  • DOJ sues Barclays over faulty RMBS claims

    Lawsuit dates back to the financial crisis
    The ripples from the financial crisis are far from over. Barclays is now the newest bank to get thrown into the spotlight due to a lawsuit filed on Thursday by the U.S. Department of Justice over faulty mortgage-backed securities during the crisis.
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  • Barclays triumphs in toxic mortgage bond row with U.S. Bank, FHFA

    Court rules U.S. Bank, FHFA waited too long to file claims
    Barclays Bank and a defunct subprime lending unit of the company are off the hook for allegedly misrepresenting the quality of the mortgages that made up a $619 million mortgage bond after the Supreme Court of the state of New York ruled that U.S. Bank and the Federal Housing Finance Agency waited too long to file a lawsuit against Barclays.
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  • FDIC wins $190M settlement for toxic Countrywide mortgage bonds

    Settlement stems from failure of five banks
    The ghosts of Countrywide past just struck again, as the Federal Deposit Insurance Corporation announced Thursday that eight major financial institutions will pay $190 million total to settle a series of lawsuits tied to toxic Countrywide mortgage bonds that subsequently led to the failure of five banks during the housing crisis.
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  • Barclays: FHA mortgage insurance premiums likely cut, again

    Latest FHA report increases chances of further reduction
    While some industry observers are saying that now is not the time for the Federal Housing Administration to cut its mortgage insurance premiums again despite the FHA saying Monday that it reached its mandated capital reserve threshold, a new report from Barclays suggests that the FHA’s latest actuarial report actually increases the likelihood of a further cut to the FHA’s premiums.
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