Lawyers

• Regulators Want Revisions on 'Living Wills’ of Five Big U.S. Banks

  The Federal Reserve and the Federal Deposit Insurance Corp. wants significant revisions on the living wills of United State's five biggest banks. These revisions will prevent taxpayers from carrying the burden in case of bankruptcy.

• Citigroup to be investigated regarding involvement on FIFA's bribe scandal

  Citigroup Inc. is now included in the investigation regarding FIFA's recent scandal. The company together with other banks will be placed under the microscope as authorities try to find relevant information.

• How Wall Street came out on gay marriage

  On March 6, the day of the U.S. Supreme Court's deadline for legal briefs backing same-sex marriage, gay rights activists quietly celebrated a victory on Wall Street.

• JPMorgan settles currency manipulation lawsuit in U.S.

  JPMorgan Chase & Co has become the first bank to settle a U.S. antitrust lawsuit in which investors accused 12 major banks of rigging prices in the $5 trillion-a-day foreign exchange market.

• U.S. court narrows mortgage lawsuit against Bank of NY Mellon

  A U.S. appeals court on Tuesday threw out most of the claims in an investor lawsuit against Bank of New York Mellon Corp as trustee for subpar mortgage-backed securities involved in an $8.5 billion settlement by Bank of America Corp.

• BofA still seeking SEC relief in $16.7 billion settlement

  Bank of America Corp is still trying to get a penalty waiver from the U.S. Securities and Exchange Commission over a $16.7 billion settlement involving bad mortgages, Bloomberg reported on Friday, citing two people familiar with the matter.

• Bank of America's Merrill fined over short-sale rule violations

  Wall Street's self-funded regulator said on Monday it fined Bank of America Corp's Merrill Lynch unit a total of $6 million over violations of certain short-selling rules designed to prevent market manipulation.

• No sign of mistrust as U.S. clients flock to big banks

  The five biggest U.S. retail banks added 25 million new deposit accounts since 2010, a study showed on Monday, a sign that banks can continue to grow despite a lack of public trust after the credit crisis.

• US leaves whistleblower to deal with foreclosure-fraud lawsuit

  A lawyer for mortgage fraud whistleblower Lynn Szymoniak said it was odd why the US government decided to not pursue the second mortgage fraud case his client has brought up against several lenders considering that the US government's campaign to seek out banks who peddled mortgage-backed securities is still ongoing.

• BofA reveals new probes in forex and mortgage units, 20% increase in legal costs

  Bank of America Corp said in its annual regulatory filing yesterday that it has increased its litigation expenses to 20%, and part of the reason would be new foreign government and federal agency probes on the bank's mortgage and foreign-exchange businesses.