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General Electric placed its WMC Mortgage unit into Chapter 11 bankruptcy protection as it has nearly $1.7 billion in legal settlements agreed to or pending.
April 24 -
General Electric Co. finalized an agreement to pay $1.5 billion to settle a U.S. investigation into the manufacturer's defunct subprime mortgage business.
April 12 -
WMC Mortgage, a leading subprime originator during the boom era, could file for bankruptcy by parent company General Electric if it loses a legal proceeding regarding indemnifications on mortgage-backed securities.
May 3 -
After the FSOC voted to rescind its systemic designation for AIG, it's unclear whether the interagency council will continue to appeal a court ruling overturning MetLife's SIFI designation.
October 2