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December 13, 2013 | By Ken Bensinger
A day after opening talks to resolve hundreds of sudden-acceleration cases in federal and state court in California, Toyota Motor Corp. has settled a separate lawsuit, filed in West Virginia. On Friday, the Japanese automaker reached a confidential agreement with Opal Gay Vance, whose 2010 Camry accelerated and crashed into a trailer and injured her back and neck, her attorney said. The case had been scheduled to go to trial on Jan. 21, making it the next sudden-acceleration case Toyota was expected to face anywhere in the country.
December 12, 2013 | By Andrew Tangel
NEW YORK -- JPMorgan Chase & Co. can't stop writing checks to the federal government. The nation's largest bank may, according to a person familiar with the matter, soon pay about $2 billion to settle investigations into its dealings with Bernard Madoff, the notorious fraudster whose epic Ponzi scheme collapsed five years ago. This next payout would come as the ink was still drying on a landmark $13-billion settlement the New York company struck...
December 10, 2013 | By Joel Rubin and Catherine Saillant
The Los Angeles City Council on Tuesday agreed to pay nearly $6 million to a group of police officers who accused their superiors of imposing a secret traffic ticket quota system on the Westside. The settlement, approved unanimously, brings to more than $10 million the amount of taxpayer money spent on payouts and legal fees from the ticket quota cases. But that number could grow because one more officer's case is still pending. The ticket controversy has been a black eye for the Los Angeles Police Department.
December 4, 2013 | By Jim Puzzanghera
Three of the nation's largest banks are not fully complying with new standards for dealing with mortgage customers that were agreed to as part of a $25-billion settlement of foreclosure abuse allegations, the settlement's monitor said Wednesday. In the first half of the year, Bank of America Corp., failed three of the 29 metrics designed to test compliance with 304 new mortgage servicing standards, according to a report from the Office of Mortgage Settlement Oversight. JPMorgan Chase & Co., and Citigroup Inc. each failed two of the standards.
December 3, 2013 | By Ryan Faughnder
Hotfile, one of the biggest file-sharing websites on the Internet, has agreed to pay $80 million in a settlement that ends film studios' litigation against the company, the Motion Picture Assn. of America said Tuesday.  The U.S. District Court for the Southern District of Florida, in addition to awarding the damages, ordered the site to shut down unless it starts using special technology to stop the illegal sharing of studios' content. The judgment comes after the court found Hotfile, and its principal Anton Titov, liable for copyright infringement in August .  ON LOCATION: Where the cameras roll “This judgment by the court is another important step toward protecting an Internet that works for everyone,” said Chris Dodd, the MPAA's chairman and chief executive.
December 2, 2013 | By Jim Puzzanghera
WASHINGTON -- Bank of America Corp. agreed to pay $404 million to Freddie Mac to settle claims related to bad mortgages the bank sold to the housing finance giant, the companies said Monday. The settlement resolves all disputes between the two firms related to home loan deals during the subprime housing boom, BofA said. The payment, less a credit of about $13 million toward the settlement for loans BofA had already repurchased from Freddie Mac, releases the bank from potentially being forced to repurchase about 716,000 mortgages originated from 2000 to 2009.
November 27, 2013 | By James Barragan
Several California meatpacking companies that supplied beef to the National School Lunch Program have reached a $3.1-million settlement over allegations of abusive treatment of cattle and other issues. Westland Meat Packing Co., one of the companies listed in the lawsuit, will enter a consent judgment of $155.68 million. The figure represents the amount the government paid for services, but because Westland does not have the assets, the company and its owner, Steve Mendell, will actually pay $240,000.
November 26, 2013 | By Abby Sewell
Los Angeles County supervisors agreed to pay $722,000 to settle a civil lawsuit filed by a former jail inmate who said Sheriff Lee Baca showed "deliberate indifference" to dangerous conditions in the county jails. Dion Starr, 44, said he was stabbed 23 times by Latino gang members while in custody at Men's Central Jail in 2006. Starr's attorney's said Starr -- who is black -- is not affiliated with a gang. Starr argued that Baca's failure to correct security issues in the jails made him ultimately responsible.
November 19, 2013 | By Stuart Pfeifer
JPMorgan Chase & Co. said the $13 billion settlement it reached with the Justice Department, state attorneys general and other agencies erased most of its potential liability in the sale of faulty mortgage investments that fueled the 2008 financial crisis. "Today's settlement resolves actual and potential civil claims by the Department of Justice, several state attorneys general, the Federal Deposit Insurance Corp., the National Credit Union Administration and the Federal Housing Finance Agency relating to residential mortgage-backed securities activities by JPMorgan Chase, Bear Stearns and Washington Mutual," the company said in a news release.
November 19, 2013 | By Michael Hiltzik
The headline number on the big JPMorgan Chase legal settlement with state and federal regulators hasn't changed in the weeks since the negotiations over the deal first broke into the open: $13 billion. The deal's sponsors are falling all over themselves to point out that it's the "the largest settlement with a single entity in American history," to quote the Department of Justice. Here's what else hasn't changed: It's not enough. The money isn't sufficient to compensate the public for the damage done to the economy by JPMorgan Chase and Bear Stearns & Co. and Washington Mutual, the two banks that it acquired in 2008 and were involved in the same chicanery in the mortgage-backed security market that is the subject of the settlement.
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