The US Department of Justice (DOJ) on Thursday announced a $16.65 billion settlement with Bank of America (BOA) to settle claims that it sold precarious mortgage-backed securities to investors. Of the $16.65 billion,...
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A federal judge on Wednesday imposed a $1.27 billion penalty on Bank of America after a jury found them liable for mortgage fraud. Judge Jed Rakoff for the US District Court for the...
Citigroup, Inc. on Monday agreed to pay $7 billion to settle a federal inquiry into mortgage-backed securities sold by the bank prior to the country's financial crisis. The deal, which involves one of the largest cash penalties ...
The US Supreme Court on Monday granted certiorari in Jesinoski v. Countrywide Home Loans, Inc. to determine the requirements of the Truth in Lending Act . The...
JPMorgan Chase & Co. Settlements with the US Department of Justice The US Department of Justice announced on November 19, 2013 that JPMorgan Chase & Co. had agreed to a record-setting $13 billion settlement over its risky mortgage practices that...
The ongoing saga of major bank settlements with the Department of Justice, Fannie Mae and Freddie Mac is mostly the result of the economic crisis of 2007-2008. Prior to this time, Bank of America and JPMorgan Chase & Co. sold...
Bangladesh executes Islamist leader for crimes during 1971 war for independence
The Bangladesh government on Thursday executed Abdul Quader Mullah , Assistant Secretary General of the opposition Islamist Jamaat-e-Islami (JI) party. Mollah was convicted by Bangladesh's International Crimes Tribunal (ICTB) ...
Federal judge: US should get mortgage firm data for banking probe
A federal judge on Monday recommended that e-mails and other data collected by a large due-diligence firm for Wall Street banks should be turned over to the Department of Justice (DOJ) , a move that may determine which...
A jury in the US District Court for the Southern District of New York on Wednesday found Bank of America (BOA) liable for fraudulently making bad loans and for removing quality checks for...
DOJ sues Bank of America for fraud relating to financial crisis
The US Department of Justice (DOJ) on Tuesday filed suit against Bank of America (BOA) in the US District Court for the Western District of North Carolina , claiming the corporation misled...