BoNY's primary claim, for breach of representations and warranties, was not a subject of the motion for partial summary judgment.

On September 20, 2016, Judge Shelley Chapman of the U.S. Bankruptcy Court for the Southern District of New York approved the $37 million settlement of $1.3 billion in claims...

Orrick lawyers authored an article titled "LIBOR . . . Coming to an End?" discussing the transition to the post-LIBOR era, with focus on legacy contracts that reference LIBOR.

On February 25, the National Credit Union Administration Board ("NCUA") accepted an offer of judgment tendered by UBS Securities LLC ("UBS") in the amount of $33,014,285...

On April 8, U.S. District Judge Jesse M. Furman approved a $1.2 billion settlement paid by Wells Fargo NA to the Federal Housing Administration ("FHA")...

On December 18, Judge William Pauley III of the U.S. District Court for the Southern District of New York denied Bank of New York Mellon's motion to dismiss RMBS claims...

On March 21, 2017, Judge George Daniels of the United States District Court for the Southern District of New York partially granted and partially denied defendant's motion to dismiss in...

On March 21, 2017, Judge Naomi Reice Buchwald of the United States District Court for the Southern District of New York issued a Memorandum and Order granting defendants' motion...

On November 25, the Securities and Exchange Commission (SEC) voted to propose new rules and rule amendments to update the existing regulations on the use of derivatives by registered...

On May 23, 2016, a three-judge panel of the Second Circuit Court of Appeals overturned a judgment of fraud against Bank of America, Countrywide, and former Countrywide executive Rebecca Mairone in U.S. v Countrywide Home Loans, Inc.

On November 16, the Second Circuit Court of Appeals affirmed the District Court's dismissal of a lawsuit brought by Deutsche Bank National Trust Co. (acting as Trustee for RMBS Trust GSR 2007-OA1) against Quicken Loans, alleging that Quicken breached its obligation to repurchase mortgage loans that violated representations and warranties ("R&Ws").

On June 12, 2017, the U.S. Treasury Department released its report to the President, "A Financial System That Creates Economic Opportunities – Banks and Credit Unions,"...

The proposed settlement would conclude lawsuits in which NECA and PFRS alleged that Goldman Sachs had made numerous misstatements about the loans underlying $6 billion in RMBS offerings.

On August 11, 2016, the First Department of the Appellate Division of the Supreme Court of the State of New York affirmed dismissal of an action brought by Deutsche Bank National Trust Company...

On August 9, 2016, RMBS trustee Deutsche Bank National Trust Company and WMC Mortgage, LLC, filed a joint motion to stay an appeal pending in the Court of Appeals for the Second Circuit.

Wondering what regulators are looking to hold individual executives accountable for in data breaches? In this short video, Orrick partner

Orrick attorneys authored an article, titled "Proposed Regulations Under §385 Classifying Interests in a Corporation," addressing Section 385 regulations proposed by the Internal Revenue Service and the U.S. Treasury Department...

All 34 Republican members of the Financial Services Committee of the U.S. House of Representatives, including Chairman Jeb Hensarling (Tex. – R) and Vice Chairman Patrick McHenry (N.C. – R)

The vulnerability of America's physical infrastructure has long been at the top of mind for national security officials, but the growing threat of cyberattacks, both state-sponsored and criminal...

Ransomware is one of the rising scourges of the business world, with approximately 50% of U.S. companies reporting being hit with a ransomware attack in the past year, according to a recent study.