Consumer protection agency fines Wells Fargo US $100 million
The Consumer Financial Protection Bureau (CFPB) , a federal agency entrusted with consumer protection in the financial sector, announced on Thursday a $100 million fine against banking giant Wells Fargo for widespread illegal sales practices....
Morgan Stanley agrees to $3.2 billion settlement with state and federal authorities
Morgan Stanley agreed Thursday to pay about $3.2 billion to settle charges that it misled investors in residential mortgage-backed securities. The charges come from an investigation by the Residential Mortgage-Backed Securities Group that...
DOJ announces new policy for prosecution of white-collar crimes
The US Department of Justice (DOJ) on Wednesday unveiled a new policy for white-collar crimes, which targets individuals accused of crimes instead of the companies. The guidelines were sent to all US...
UK trader sentenced to 14 years for interest rate manipulation
Former UK bank trader Tom Hayes was convicted Monday of eight counts of conspiracy to defraud. Following a unanimous jury verdict, Judge Jeremy Cooke sentenced Hayes to 14 years in prison for attempting to rig...
Citigroup ordered to return $700 million to credit card customers
US regulators on Tuesday ordered Citigroup to refund $700 million to nine million credit card customers, along with a $70 million fine for illegal and deceptive practices.The Consumer Financial Protection Bureau (CFPB) ordered...
DOJ criticizes new white collar crime sentencing recommondations
The US Department of Justice (DOJ) on Thursday criticized the US Sentencing Commission after a federal panel introduced a proposal which would reduce prison time for white-collar criminals. The DOJ objected to the panel's ideas...
JURIST Guest Columnist Pardis Camarda, St. John's University School of Law Class of 2015, is the author of the sixth article in a twelve-part series from the staffers of the Journal of Civil Rights and Economic Development. Camarda discusses attractiveness...
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,...
Holders of Argentina's euro-denominated bonds filed a notice of appeal Friday of a US District Court for the Southern District of New York's ruling barring the country from making interest payments on the notes until...
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...
