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Legal News
23 Oct 2015
by William Helbling

[JURIST] UN Special Rapporteur on freedom of expression David Kaye [official profile] spoke out [press release] on Thursday against governments and international organizations who lack protection for whistleblowers. Kaye believes that there are numerous whistleblowers who withhold information that should be made public because of intimidation from government officials and … [read more]

Legal News
10 Sep 2015
by Emelina Perez

[JURIST] The US Department of Justice (DOJ) [official website] on Wednesday unveiled a new policy [text, PDF] for white-collar crimes, which targets individuals accused of crimes instead of the companies. The guidelines were sent [USA Today report] to all US Attorneys effective immediately. Previously, the DOJ made a priority of … [read more]

Legal News
11 Aug 2015
by Valerie Howell

[JURIST] A judge for the United States District Court for the Southern District of New York [official website] ruled [opinion, PDF] on Friday that New York City's regulation of the banking industry through the Responsible Banking Act [text, PDF] is unconstitutional. The Act was passed by New York's City Council … [read more]

Legal News
6 Aug 2015
by Taylor Brailey

[JURIST] A judge for the United States District Court for the Southern District of New York [official website] on Wednesday sentenced Irwin Lipkin, a former controller of Bernard L. Madoff Investment Securities, to six months in prison for his involvement in Bernard Madoff's [JURIST news archive] multi-billion-dollar Ponzi scheme. Lipkin … [read more]

Legal News
22 May 2015
by Laura DeGeer

[JURIST] Five of the world's largest banks agreed Wednesday to plead guilty [press release] to rigging currency markets and to pay over USD $5 billion in penalties to the US Department of Justice (DOJ) [official website], along with several domestic and international agencies. Traders from Citicorp, Barclays, the Royal Bank … [read more]

Legal News
10 May 2015
by Jacqueline Jones

[JURIST] The Illinois supreme court [official website] on Friday overturned [opinion, PDF] the 2013 Illinois Pension Law [98-599 text] that attempted to reduce the state's pension deficit by eliminating automatic cost of living increases and extending the retirement age. The law itself would apply to four of the state's five … [read more]

Legal News
14 Mar 2015
by William Helbling

[JURIST] The US Department of Justice (DOJ) [official website] on Thursday criticized the US Sentencing Commission [official website] after a federal panel introduced a proposal which would reduce prison time for white-collar criminals. The DOJ objected to the panel's ideas to reduce prison sentences for various fraud-related crimes. Reports indicate … [read more]

Legal News
22 Nov 2014
by Elizabeth LaForgia

[JURIST] An Illinois judge on Friday ruled [opinion, PDF] a law intended to fix the pension crisis in the state violates the Illinois constitution. Sangamon Country Circuit [official website] Judge John Belz ruled in favor of state employees and retirees who sued to block the law. Last December state lawmakers … [read more]

Legal News
10 Oct 2014
by Brittany Felder

[JURIST] The US Court of Appeals for the Second Circuit [official website] on Thursday revived [order, PDF] a whistleblower's lawsuit against JPMorgan Chase & Co. [corporate website]. In a unanimous decision, the court vacated and remanded a lower court's grant of summary judgment [order, PDF] to JPMorgan, which had effectively … [read more]

Legal News
19 Aug 2014
by Kimberly Bennett

[JURIST] A judge for the US District Court for the District of Minnesota [official website] on Monday approved a settlement for $62.5 million between Wells Fargo & Co [corporate website] and large institutional clients who lost money in an investment program known as securities lending. US District Judge Donovan Frank … [read more]

Legal News
31 Jul 2014
by Nicholas Tomsho

[JURIST] A federal judge on Wednesday imposed [opinion; PDF] a $1.27 billion penalty on Bank of America [corporate website] after a jury found them liable for mortgage fraud. Judge Jed Rakoff [official profile] for the US District Court for the Southern District of New York [official website] ruled after a … [read more]

Legal News
26 Jun 2014
by Dominic Yobbi

[JURIST] A former accountant for Bernard Madoff [JURIST news archive] pleaded guilty [press release] Tuesday to charges connected to Madoff's multibillion dollar Ponzi scheme. Paul Konigsberg, a 78-year-old former senior tax partner at Konigsberg Wolf & Co and the last defendant in the Madoff prosecutions, pleaded guilty to one count … [read more]

Legal News
11 Jun 2014
by Peter Snyder

[JURIST] The US Court of Appeals for the District of Columbia Circuit [official website] on Tuesday rejected [opinion, PDF] Wells Fargo & Co's [corporate website] contention that the bank's participation, along with other national banks, in a $25 billion settlement with the US government over foreclosure abuses [JURIST report] should … [read more]

Legal News
6 May 2014
by Rebecca DiLeonardo

[JURIST] US Attorney General Eric Holder said [video, mp4] on Monday that the Department of Justice (DOJ) [official website] is in the process of investigating several financial institutions and criminal charges may follow. In the video released by the DOJ, Holder said that no institution is "too big to jail" … [read more]

Legal News
25 Mar 2014
by Bradley McAllister

[JURIST] A federal jury in the US District Court for the Southern District of New York [official website] on Monday returned a guilty verdict for five former associates of Bernard Madoff [JURIST news archive] on charges they aided and profited from the Ponzi scheme that defrauded billions of dollars from … [read more]

11 Mar 2014
by Neil Devlin

The Oil Pollution Act of 1990 passed both houses of Congress by large margins and was signed into law by President George H.W. Bush in response to the Exxon Valdez spill in Prince William Sound, Alaska. It mandates detailed clean-up plans from oil companies and requires monies to be set … [read more]

Legal News
7 Mar 2014
by Matthew Pomy

[JURIST] An Italian appeals court overturned the fraud oversight convictions of several banks on Friday. A lower court ruled that JPMorgan Chase & Co., Deutsche Bank AG, UBS AG and Depfa Bank Plc forced the city of Milan to enter into an interest-rate swap agreement that ended up costing the … [read more]

25 Feb 2014
by Zachariah Rivenbark

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 played a role in the 2008 financial crisis. News of … [read more]

25 Feb 2014
by Kyle Webster

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 billions of dollars in mortgage loans and mortgage securities to … [read more]

25 Feb 2014
by G. Redd

Sub-prime loan practices began in the mid-1980s as lawmakers sought to increase housing opportunities. Prior to this, many Americans were unable to purchase a home due to credit scores below 550. Census data compiled by the Federal Reserve shows that over half of the failed mortgage payments were African-American families, … [read more]

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