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Bank of America Foreign Exchange and Mortgage Practices Under Investigation

On Tuesday, Bank of America disclosed in its annual report with the US Securities and Exchange Commission (SEC) that “government regulators” in North America, Europe and Asia are investigating its foreign exchange and...more

3/4/2014 - Bank of America Banking Sector Countrywide DOJ Foreign Exchanges RMBS SEC

JPMorgan Chase Agrees to $13 Billion Settlement with the U.S. Justice Department for Knowingly Selling Toxic Mortgage-Backed...

On Tuesday, the United States Justice Department announced that it finalized a settlement agreement with JPMorgan Chase for $13 billion. This settlement will resolve a multitude of state and federal investigations into...more

11/21/2013 - DOJ JPMorgan Chase Mortgage-Backed Securities Mortgages Settlement

BofA’s Countrywide Found Responsible For Defrauding Fannie Mae & Freddie Mac

A federal jury ruled yesterday that Countrywide, now owned by Bank of America, defrauded Fannie Mae and Freddie Mac by selling them defective mortgages in advance of the great financial crisis of 2008. A former Countrywide...more

10/25/2013 - Bank of America Compliance DOJ Fannie Mae Fraud Freddie Mac Mortgages SEC Subprime Mortgages

DOJ and SEC File Suits Against Bank of America

Stop me if you have heard something like this before. The Department of Justice announced a civil lawsuit on Tuesday alleging that Bank of America defrauded buyers of mortgage-backed securities by lying about the quality of...more

8/8/2013 - Bank of America DOJ FHFA Fraud Home Equity Mortgage-Backed Securities Mortgages SEC

DOJ Lawsuit Against S&P and McGraw Hill

Last week, the Department of Justice (DOJ) filed a civil suit in the Central District of California against Standard & Poor’s Financial Services (S&P) and its parent company McGraw-Hill. The suit alleges that S&P engaged in a...more

2/14/2013 - Collateralized Debt Obligations DOJ Fraud Investment Schemes McGraw Hill RMBS S&P

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