But Ms. Polisi added that there had been considerable substance to a number of Mr. Schneiderman’s investigations as well as some major successes. Mr. Schneiderman’s big accomplishment in going after Wall Street were the billions of dollars in penalties that he helped secure from big banks that had sold flawed mortgage-backed bonds during the run-up to the financial crisis. In 2016, Mr. Schneiderman and the Securities and Exchange Commission announced a $154 million settlement with Barclays and Credit Suisse to resolve allegations that the banks had permitted traders to misuse their dark pool platforms. In 2015, Mr. Schneiderman’s office opened an investigation into the mortgage practices of Caliber Home Loans, a fast-growing lender, but has said nothing about the inquiry since then. A spokeswoman said that the office generally avoided providing details about the number of open investigations.

Source: New York Times May 09, 2018 13:00 UTC