JPMorgan loses bid to toss FHFA's mortgage debt lawsuit
NEW YORK (Reuters) - JPMorgan Chase & Co lost a bid on Monday to win the dismissal of a lawsuit by a U.S. regulator accusing the bank of misleading Fannie Mae and Freddie Mac in buying billions of dollars worth of risky mortgage securities.
U.S. District Judge Denise Cote in Manhattan pared down parts of the lawsuit filed by the Federal Housing Finance Agency but allowed other claims to stand.
The case was one of 17 lawsuits that the agency, as conservator for Fannie and Freddie, filed in September 2011 against banks including Bank of America Corp and Citigroup Inc.
(Reporting By Nate Raymond in New York; Editing by Gerald E. McCormick)
- Islamic State closes in on Syrian town, refugees flood into Turkey |
- Exclusive: Iran seeks give and take on Islamic State militants, nuclear program
- Accused White House intruder is decorated Iraq war veteran
- Asian shares slip, dollar pulls away from highs
- UK's Cameron shifts tack on constitutional shake-up to mollify Scots