She recently discussed the fact that although KPMG has settled litigation over the failures of New Century and Countrywide, it still faces litigation over Citigroup and Wells Fargo/Wachovia.She also mentions that Price Waterhouse Coopers faces similar risk with respect to its audits of Bank of America and JPMorgan Chase, both under heavy buyback pressure from Fannie and Freddie. [read post]

Although the CSA agreed that the HUD regulations did not afford a private right of action, it opined that private parties may be bound by laws specifically incorporated into contracts executed between them. [read post]