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...
What a difference $10 billion makes. After announcing in December 2013 that it would taper off its stimulus plan from $85 billion in securities purchases a month to $75 billion, the Federal Reserve has just released plans to cut back by another $10 billion a month...
It sounds like something from a science fiction movie: a shadow world that exists alongside the one we know. But “shadow banking” – an unregulated, opaque world of financial dealings that functions alongside usual commercial banking practices – is very real. And the...
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...
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...
