Lawsuits Against US Bancorp and Bank of America Dismissed

first_img Bank of America RMBS Complaints U.S. Bancorp 2015-05-19 Seth Welborn May 19, 2015 545 Views A federal judge dismissed claims in lawsuits against U.S. Bancorp and Bank of America accusing the two banks of failing in their duties as trustees for residential mortgage-backed securities that were allegedly found to have defects after they were sold, causing billions of dollars in losses to investors.U.S. District Judge Katherine Forrest in Manhattan dismissed the claims against the two banks in three separate decisions. In the first decision, a group of institutional investors, BlackRock Inc, Allianz SE’s Pacific Investment Management Co and TIAA-CREF sued U.S. Bancorp, claiming the bank was responsible for 843 toxic mortgage-backed securities totaling about $778 billion in collateral. Forrest ruled that the claims were not pleaded correctly on 33 of the trusts and that the remaining 810 trusts did not fall under her jurisdiction.In the second decision, Forrest dismissed a claim from the National Credit Union Administration, ruling that the NCUA lacked standing to sue the two banks because the certificates for 74 trusts, which were purchased by five corporate credit unions that later failed, had been re-securitized. Likewise, Forrest ruled that investors based in Ireland and the Cayman Islands lacked standing to sue the two banks. All of the plaintiffs were given a chance to amend their complaints.An attorney for BlackRock, Allianz, and TIAA-CREF, when reached by email, declined to comment on the judge’s decision. Bank of America spokesman Lawrence Grayson declined to comment, and U.S. Bancorp spokesman Dana Ripley told DS News, “We are pleased with the rulings.”This is the second victory for Bank of America in court in less than a week regarding its mortgage banking practices. Late last week, a federal judge threw out a suit filed by the City of Los Angeles which claimed the bank engaged in discriminatory lending practices that led to massive defaults, foreclosures, and eventually blight in Los Angeles neighborhoods.A settlement in which Bank of America and U.S. Bancorp agreed to pay $69 million to Washington Mutual in a similar case in which the two banks were accused of failing in their duties as trustees for mortgage-backed securities was approved by Forrest in March. Just as in the three cases that were recently dismissed, Washington Mutual alleged that breaches on the part of the two banks led to massive losses when the financial crisis hit. Lawsuits Against U.S. Bancorp and Bank of America Dismissedcenter_img in Daily Dose, Featured, News, Servicing Sharelast_img read more

Whether youre a lover of the great outdoors or no

first_imgWhether you’re a lover of the great outdoors or not, the safari is the ultimate wildlife experience.The chance to see the ‘big five’ – lion, leopard, elephant, rhino and buffalo – the world’s most iconic animals, is something that cannot fail to impress.Skyscanner looks at two safari options – the chic and the cheap – that will give you the safari experience, whatever your budget.Chic Safari: KenyaKenya is Africa’s most popular safari location, and most Kenyan safaris include a visit to the Masai Mara , widely regarded as the best game reserve in the country and known for its sheer numbers and diversity of game.Here you’ll be able to view lions, leopards, buffalos, elephants, rhinos, wildebeest and zebra in their natural habitat with no cages, no crowds and no boundaries – just miles and miles of untouched African scenery. Visitors can stay in the legendary ‘tree top hotel’, luxurious lodges, or any number of chic or otherwise camping options which can be arranged via a safari tour guide and will allow you to get close up and personal with the wildlife (though not too close!) and really experience the wonder of the African safari.Find cheap flights to KenyaCheap Safari: UKWhilst watching wildlife in its natural habitat is the ultimate animal experience, it doesn’t come cheap; a family safari to Kenya will cost several thousands of pounds. But you don’t have to leave the UK to experience the wonder of the world’s magnificent beasts.The UK is well endowed when it comes to safari parks, wildlife sanctuaries and zoos, and there’s one advantage of the safari park over the real African safari – you’ll be able to see animals that live outside of Africa too.The West Midlands’ Safari Park The West Midlands’ Safari Park is a little piece of Africa right here in the UK. Offering miles of safari like terrain and the chance to see the UK’s only pride of rare white lions (which are virtually extinct in the wild) as well as elephants, rhinos, tigers, wild dogs, wallabies, wolves, buffalo, zebra and gnu. Turn up at the right time and you can even feed the animals. There’s also an amusement park with 30 rides to scare yourself on, from the New Venom Tower Drop, to the Zambezi Water Splash. And for the ultimate outdoor experience, stay at the Coppice Gate Holiday Park, in the nearby Wyre forest.Find cheap flights to BirminghamLongleat Safari Park Made famous by featuring on the BBC documentary “Animal Park”, Longleat was the first location outside of Africa to open a drive through safari park. Visitors will get to see giraffe, flamingos, vultures, seals, lions, wolves, tigers and pelicans, and can even get close up and personal with the animals at the ‘Family Pets Corner’, where you’ll get the chance to handle snakes, possums, and if you’re brave enough, tarantula spiders! Stay at a campsite near Longleat and you’ll even get to hear the lions roar as you sleep!Find cheap flights to BristolBlair Drummond Safari and Adventure Park Scotland’s Blair Drummond Safari and Adventure Park offers an excellent animal experience for those living north of the border. There’s a great array of wildlife including antelope, bears, bison, lemurs, elephants, chimps, lions, otters, zebra, meerkats, penguins, sea lions, ostriches and tigers.There are also plenty of rides and amusements including pedal boats, the Pirate Ship and the Giant Astraglide Slide, and for the parents there’s the essential ‘Watering Hole Bar’. Accomodation can be found at the Blair Drummond Caravan Park situated near Stirling in an attractive site, set in and around a walled garden, sheltered with mature trees and bright flowering shrubs.Find cheap flights to Glasgow or EdinburghReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map RelatedTravel to magical Africa with these flight deals from LufthansaAfrica – an intrepid traveller’s dream. A continent that is incredibly diverse in landscape and cultures, you could spend a lifetime exploring this rich, colourful land. If you want to get closer to the wonders of nature, Africa has plenty to offer – Kilimanjaro, epic Safaris, the Sahara desert are…On safari: the great wildebeest migrationOn safari: the great wildebeest migrationAdventure Travel Around the WorldAdventure travel expert Catrionna Grant from Tucan Travel introduces the world’s top spots for exciting travel optionslast_img read more