The nation’s big banks have been paying out millions to settle a long string of lawsuits pressed by the US Department of Justice and numerous states’ attorneys general. But where do those millions come from? According to new figures cited by the Bloomberg Review, over...
More dirty laundry continues to air in the mortgage lending industry as US Department of Justice investigations keep leading to more charges of bad loan practices against the nation’s biggest banks. The latest round has JP Morgan Chase paying $614 million for...
It’s the kind of publicity Bank of America doesn’t need right now: a German –born intern at one of the bank’s London branches died after a long stretch of workdays without a break. So BofA, like other scandal-plagued US megabanks – is mounting new efforts to clean up...
Last week, JP Morgan Chase settled its latest lawsuit with the US Department of Justice to the tune of $18 billion. That’s the largest single settlement ever concluded for an individual American corporation, and that makes some industry watchers wonder whether the...
It seems like old news by now. Charges, suits and settlements against the nation’s megababks for mortgage fraud dating back to the days of the housing bubble and subsequent crash keep making headlines with dismal regularity. And the trend continues as Bank of...
