Yik Yak, the anonymous messaging app sweeping college campuses nationwide, recently announced that it has closed a $62 million round of financing led by Sequoia Capital. Mike Isaac,1 This was the messaging company’s third round of venture funding in the past seven months, bringing its total funding raised to approximately $73 million.2 While to outsiders…
Month: February 2015
Yet Another Lawsuit is Filed Stemming From Mortgage Servicer Actions During the Foreclosure Crisis
Large financial institutions servicing mortgages encountered extensive criticism for their handling of the housing crisis. That criticism has manifested itself in the form of major lawsuits, some of which have ended with high profile, expensive settlement agreements.1 The most recent innovative attempt to hold these servicers accountable for alleged improper acts in the foreclosure process…
Volcker Compliance: Spirit vs. Substance
Wall Street is innovative, well known for continuously developing new ways to make money through the financial markets. In the early 2000s, Wall Street innovations allowed more Americans to become homeowners than ever before. Those same innovations allowed the negative effects of the bursting housing bubble to permeate the entire financial system. In the present,…
Ramping Up Corporate Compliance
Corporate compliance has become an increasingly prominent area of law. The regulatory state has grown to unprecedented heights creating more regulations, which in turn has led to more violations, and higher corporate costs. For example, in 2013, J.P. Morgan agreed to a settlement with the Justice Department for a staggering $13 billion for various regulatory…