In the News Today - November 1, 2013

November 01, 2013

A New York lawyer testified that he wanted ‘no part’ of a lawsuit against Chevron after finding out about ethical violations by the plaintiffs’ team. Reuters

Wells Fargo announced it has settled with the Federal Housing Finance Agency over mortgages it sold to Fannie and Freddie. Terms of the settlement were not disclosed. Wall Street Journal

Fannie Mae is suing nine banks, claiming $800 million in losses from their alleged manipulation of the LIBOR interest rate. Freddie Mac filed a similar suit in March. New York Times

Avon says that federal regulators are seeking larger than expected penalties to resolve an FCPA investigation. The company has already racked up $340 million in legal costs since 2008. Wall Street Journal