Financial giants have settled the cases one by one. In January, Goldman Sachs agreed to pay $5.1 billion for shady deals that fueled the crisis. Last year, Morgan Stanley settled for $2.6 billion. In 2013, JPMorgan Chase settled for $13 billion.
There were 18 financial institutions found to be involved in securities law violations and fraud in the sale of private-label securities (PLS) to Fannie Mae and Freddie Mac. The settlements made are found below.
PLS Litigation Settlements 1. General Electric Company $6.25 million 2. CitiGroup Inc. $250 million 3. UBS Americas, Inc. (Union Bank of Switzerland) $885 million 4. J.P. Morgan Chase & Co. $4 billion 5. Deutsche Bank AG $1.925 billion 6. Ally Financial, Inc. $475 million 7. Morgan Stanley $1.25 billion 8. SG Americas (Societe Generale) $122 million 9. Credit Suisse Holdings (USA) Inc. $885 million ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 10. Bank of America Corp. 11. Merrill Lynch & Co. $5.83 billion 12. Countrywide Financial Corporation ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 13. Barclays Bank PLC $280 million 14. First Horizon National Corp. $110 million 15. RBS Securities, Inc. (in Ally action) $99.5 million 16. Goldman Sachs & Co. $1.2 billion 17. HSBC North America Holdings, Inc. $550 million (Hong Kong Shanghai Banking Corp.)
B. Non-Litigation PLS Settlements 18. Wells Fargo Bank, N.A. $335.23 million
C. Remaining PLS Cases Southern District of New York Cases: Nomura Holding America, Inc. - Case litigated in spring 2015, FHFA prevailed, now on appeal to United States Court of Appeals for the Second Circuit.
District of Connecticut Case: The Royal Bank of Scotland Group, PLC
