ERS Group Assists in Fifth Third Bank of Ohio v. U.S. ERS Group economists analyzed six “supervisory acquisitions” of failing financial institutions by a rapidly expanding thrift. As part of this effort, our experts analyzed the effects of changes in the regulatory treatment of goodwill arising from these acquisitions and responded to claims for lost profits, restitution and reliance damages. Schwartz v. Visa International, MasterCard Counsel for defendant MasterCard retained ERS Group to evaluate plaintiff’s allegation that MasterCard’s foreign currency conversion rates were unconscionable. Following testimony at trial by ERS Group, the court found no violation of law based upon unconscionability. ERS Group Analyzes Mortgage Disposition Strategies An ERS Group economist was retained to analyze the financial effects of alternative strategies for disposing of a portfolio of mortgages acquired as part of a government-assisted takeover of a failed savings bank. FDIC Retains ERS Group to Investigate Failure of Bank of New England An ERS Group Economist led a team including four academic economists retained by the U.S. Federal Deposit Insurance Corporation to analyze the failure of this large commercial bank and to respond to charges by holding company bondholders that regulatory agencies arranged the fraudulent conveyance of holding company assets to the bank. First Republic Bank Retains ERS Group Retained by directors and officers after the failure of First Republic Bank, ERS Group responded to claims of mismanagement and imprudent banking practices, analyzed the profitability and risk characteristics of major lending relationships, and analyzed transactions between the bank and its parent holding company. ERS Group Advises Credit Union Board Advising the board of directors of an underperforming credit union, ERS Group Special Consultant Alan Hess recommended changes in performance evaluation and monitoring procedures to improve long-run performance. ERS Group Investigates Due Diligence Efforts in Insurance and Annuity Association et al. v. Sergeant Electrical ERS Group economists investigated the adequacy of “due diligence” undertaken by two financial institutions prior to their separate decisions to invest in a telecommunications supply and installation company. ERS Group Calculates Late Trading and Market Timing Damages ERS Group economists assisted the MFS family of mutual funds in developing a model for calculating the losses to long-term shareholders due to late trading and market timing practices. The results of this work were used in the company’s negotiations with the U.S. Securities and Exchange Commission.