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bank fraud

After the Lawsuits, Big Banks Regroup

After the Lawsuits, Big Banks Regroup

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 its cohorts in the recent spate of bank fraud lawsuits, is now forcing its workers to take vacation...

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Are Bank Fraud Cases Hurting the Economy?

Are Bank Fraud Cases Hurting the Economy?

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 government is simply out to punish...

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Bank of America Gets The Hustle in a New Settlement

Bank of America Gets The Hustle in a New Settlement

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 America, the perennial bad buy of mortgage...

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Fannie Mae Sues Banks for Interest Rate Fraud

Fannie Mae Sues Banks for Interest Rate Fraud

The US Justice Department and numerous state attorneys general have been pressing lawsuits against the nation's big banks for a variety of crimes and misbehaviors since 2010. Now, housing giant Fannie Mae is joining the party, with  a lawsuit of its  own against nine major US and foreign banks for...

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JP Morgan Chase Settles Another Fraud Case

JP Morgan Chase Settles Another Fraud Case

While Bank of America has been grabbing headlines lately as the poster child for problematic mortgage and securities transactions dating back to the housing crash of 2008 and before, JP Morgan Chase has been conducting it own legal battles on similar charges of misbehavior at home and abroad. A just-announced...

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The Power of Social Media: Profiles Are People

The Power of Social Media: Profiles Are People

If the power and reach of social media in today’s world were ever in doubt, here’s the latest demonstration: a profile on the professional network LinkedIn became the equivalent of a real person in the latest fraud case against perennial defendant Bank of America. Bank of America as we’ve written...

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Mortgage Fraud Payouts Hit New Snags

Mortgage Fraud Payouts Hit New Snags

The comedy of errors continues as payouts trickle out to victims of wrongful foreclosures in the robosigning settlement case. A month after the first wave of checks began bouncing at banks around the country, another group of recipients are being told that they’ll get an extra check to compensate for...

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Bank of America: Back in Hot Water Again?

Bank of America: Back in Hot Water Again?

Just when it seemed the dust was settling in the various lawsuits and settlements resulting from charges of mortgage and securities fraud leveled at the nation’s biggest bank, new reports reveal that Bank of America is once again in trouble. This time the financial giant faces charges that it broke...

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