Storms brewing


New York state attorney general Andrew Cuomo is making quite a name for himself in the US mortgage industry. In November 2007 he accused Washington Mutual, one of the largest mortgage lenders in the US, of being involved in a scheme to artificially inflate home value appraisals to secure mortgage loans.

Cuomo then subpoenaed government-sponsored mortgage enterprises (GSEs) Freddie Mac and Fannie Mae, demanding data on loans they bought from lenders including Washington Mutual. The subpoenas also

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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