Bank of America Corp. failed to win dismissal of two government lawsuits in which it’s accused of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities.
JPMorgan Chase & Co. engaged in a “pattern of discriminatory” lending that led to foreclosures, the city of Miami said in a lawsuit filed last week in federal court, the latest in a series of similar claims against the nation’s largest banks.
The Washington Trust Co. collected approximately 10,000 pounds, or more than five tons, of peanut butter during its 14th annual Washington Trust Peanut Butter Drive to benefit the Rhode Island Community Food Bank and other food pantries across the state.
The United States is preparing to sue Bank of America Corp. amid an impasse in talks to resolve government probes of the lender’s sale of mortgage-backed bonds before the financial crisis, a person familiar with the matter said.
By Tom Schoenberg and Hugh Son Bloomberg News
(Updated, 3:26 p.m.)
The city has filed a federal lawsuit against Santander Bank alleging that the financial institution discriminated against the city’s minority communities by refusing to make prime mortgage loans as required by the Fair Housing Act, according to a press release from Mayor Angel Taveras.
Royal Bank of Scotland Group PLC agreed to sell its minority stake in a private-equity unit to an investor group led by buyout firm Adams Street Partners LLC, according to two people with knowledge of the matter.
By Kiel Porter, Richard Partington and Sabrina Willmer Bloomberg News
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