Monitorship Practice

Appointed monitor to Credit Suisse following the bank’s $715 million settlement with the New York State Department of Financial Services, part of a broader $2.6 billion settlement that involved the US Department of Justice (DOJ) and federal regulators.

Appointed monitor to determine Citigroup Inc.’s compliance with consumer relief obligations, valued at $2.5 billion, under its settlement agreement with the DOJ and five states over the sale of residential mortgage securities, including determining the appropriate methodology to validate the credit claimed with respect to different types of consumer relief activities and the types of evidence required to establish each element. View publicly available reports.

Appointed monitor by the DOJ to oversee the ongoing compliance by Credit Suisse Securities (USA) LLC with the terms of its $5.3 billion settlement with the DOJ over the sales of residential mortgage-backed securities in the run-up to the 2008 financial crisis. View publicly available reports.

Appointed Special Master by the Hon. Jack B. Weinstein (US District Court for the EDNY) to ensure that approximately 20 firearms dealers in five states complied with court orders obtained through litigation brought by New York City.

Appointed Settlement Administrator of an Assurance of Voluntary Compliance (Agreement) between the State of Iowa and Bridgepoint Education, Inc. and Ashford University to review compliance with the terms of the Agreement and provide annual reports to the State.

Appointed an independent settlement administrator to oversee Education Management Corporation’s compliance with the settlement disclosure and recruiting requirements regarding reforms to its recruiting and enrollment practices and more than $100 million in loan debt forgiveness to more than 80,000 former students at its four education systems.