By  Kyle Brasseur2023-08-14T19:53:00
Kyle Brasseur2023-08-14T19:53:00
Swiss banking giant UBS and several of its U.S. affiliates agreed to pay $1.44 billion as part of a settlement with the Department of Justice (DOJ) regarding the underwriting and issuance of residential mortgage-backed securities (RMBS) in the lead up to the 2008 financial crisis.
The settlement, announced Monday, resolves the last case brought by the DOJ related to big banks and their issuance of RMBS in the years prior to 2008. The agency said it secured more than $36 billion in penalties regarding conduct that fueled the financial crisis.
The case against UBS was brought in November 2018, alleging the bank defrauded investors in the sale of 40 RMBS issued in 2006 and 2007.
 
                
                2024-07-11T19:04:00Z By Aaron Nicodemus
UBS Financial Services, a subsidiary of the Swiss banking giant UBS, has been fined $850,000 for failing to properly monitor transactions between its broker-dealers and third parties.
 
                
                2023-11-17T18:52:00Z By Aaron Nicodemus
France’s top court struck down a fine of €1.8 billion (U.S. $2 billion) imposed on UBS in 2021 by a lower court, despite upholding a guilty verdict related to money laundering and tax fraud in the Swiss bank’s cross-border activities.
 
                
                2023-07-27T20:03:00Z By Kyle Brasseur
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency proposed rulemaking designed to increase capital requirements for large banks and large-scale traders.
 
                
                2025-10-30T19:59:00Z By Oscar Gonzalez
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
 
                
                2025-10-29T20:04:00Z By Oscar Gonzalez
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”
 
                
                2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
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