A judge who imposed a $45 million penalty on Bank of America Corp. over a foreclosure on a California couple still isn't ready to forget the case he described as a "Kafkaesque nightmare."
But the Wayzata, Minn., company is not out of legal hot water, as a judge let stand some charges that it violated a provision in the Dodd-Frank Act that prohibits using deceptive practices to sell consumer products.
Citi says David Madaras sent a profane message that confirmed the name of a confidential client, but he says the messages were read out of order and misunderstood.
A federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout.
