SNL: Big-Bank Settlement Tab Climbs Past $132B

According to data compiled by SNL Financial, big settlements with regulators have faded further into memory, but the latest tally for credit crisis and mortgage related settlements now stands at $132.15 billion.

S&P Said Near $1B RMBS/CDO Settlement with U.S.

Bloomberg reported that S&P is close to a settlement of about $1 billion with the U.S. for allegedly misleading investors about its ratings of mortgage-backed securities.

Deutsche Sues WMC Mortgage, GE Capital Over $666MM MBS

Deutsche Bank, in its capacity as trustee of the Morgan Stanley ABS Capital Trust, filed a complaint against WMC Mortgage LLC as successor-by-merger to WMC Mortgage Corp. and GE Capital for breach of contract over an MBS transaction encompassing loans totaling $666 million to 3,399 borrowers closed in 2007.

Fed Keeps Stimulus in Place as Economy Picks Up

The FOMC said that since January the economy has returned to moderate economic growth following a pause late last year. The Fed added that it will continue buying securities at a pace of $85 billion a month.

S&P Investigation Tagged With Codename ‘Alchemy’

In a speech announcing the U.S. government’s lawsuit against S&P, Acting Associate Attorney General Tony West provides background and insights into the investigation that was tagged with the codename “Alchemy” by the Justice Department.