(866) 647-3452
Fax (866) 550-1093

mortgage securities fraud

Cassie Burgess's picture

'Volcker rule' ban on risky trades passed by regulators

BBC News 10 December 2013 Last updated at 15:01 ET

All five US financial regulators have approved the Volcker rule, designed to restrict the finance industry in the wake of the 2008-09 financial collapse.

Named after former Federal Reserve chairman Paul Volcker, it bans banks from using their own funds for trading activities.

It is considered the centrepiece of the 2010 banking reform legislation known as Dodd-Frank.

Banks will have until 21 July 2015 to comply with the rules.

The five agencies ruling on the measure are: the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency,...

Cassie Burgess's picture

RMBS trader indicted for TARP fraud

1/28/13 1:51pm Housing Wire

A 16-count indictment has been delivered against 38-year old Jesse Litvak for allegedly defrauding customers on residential mortgage-backed securities trades.

The indictment is the result of an investigation by Christy Romero, Special Inspector General for the Troubled Asset Relief Program and U.S. Attorney David Fein out of Connecticut.  

Fein is being charged with securities fraud for allegedly using his role as managing director and registered broker-dealer at Jefferies & Co. to defraud RMBS customers, SIGTARP alleges.  Some of Litvak's alleged victims included investment funds — six of which the Department of Treasury set up in 2009 to...

Pages

Subscribe to RSS - mortgage securities fraud