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Author Archives: Bloomberg News

Citigroup mortgage unit agrees to $158M settlement

Citigroup Inc. agreed to pay $158 million to settle a Missouri whistle-blower’s claims that a unit of the third-biggest U.S. lender deliberately reduced oversight of its loan origination process, causing a surge in borrower defaults.

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Commentary: New 401(k) regulations to help investors

Determining, and actually accumulating, adequate retirement savings has never been an exact science, and many investors and workers have become increasingly frustrated by not only the performance of their 401(k)s, but also other detractions that have tarnished the nation’s most popular retirement savings vehicle.

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Monsanto to appeal French ruling on farmer’s pesticide poisoning

St. Louis-based Monsanto Co., the world’s biggest seed company, will appeal a French civil court ruling that found it’s responsible for the poisoning of a farmer who inhaled a pesticide made by the company.

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Bankruptcy process could prompt strike at Hostess

The Teamsters union said that Hostess Brands will have a strike on its hands if the bankruptcy court allows the baker of Wonder bread “to impose unfair contract terms as part of the bankruptcy process.”

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Ex-coach Sandusky gets modified bail, local jury

Jerry Sandusky, the former Pennsylvania State University assistant football coach charged with sexually abusing 10 boys, will be allowed supervised visits with his grandchildren, a judge ruled.

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Mortgage servicers enter $25B foreclosure deal

Five U.S. banks will pay more than $25 billion in the biggest civil settlement involving states and the federal government to end a probe of abusive foreclosure practices stemming from the collapse of the housing bubble.

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Bunion repair at $66,100 spurs Aetna lawsuit

Aetna Inc. is suing seven California surgery centers for a billing system that it claims “recklessly subverts” health care delivery with charges of as much as $66,100 for a bunion repair.

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Group of 500 female Wal-Mart workers file bias claims

More than 500 former and current female Wal-Mart Stores Inc. employees filed sex-discrimination claims with the U.S. Equal Employment Opportunity Commission, their attorneys said.

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Law schools sued over job data

John Marshall Law School in Chicago and the Maurice A. Deane School of Law at Hofstra University were among a group of law schools sued over claims they misrepresented employment data, leaving graduates with mounting debt and limited job prospects.

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Foreclosure agreement deadline for states postponed

The deadline for states to decide whether to join a proposed nationwide foreclosure settlement with banks was delayed to Feb. 6 from Feb. 3, the Iowa Attorney General’s Office said.

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