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 city ...[read more]
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. ...[read more]
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]
The 2008 financial crisis cost investors, consumers and businesses alike. Sub-prime lending practices devolved into a riskier regime from their time of inception to address disproportionate ratios in racial borrowing power in the 1980s to the housing bubble of the early 2000s. The bubble was ...[read more]
02/10/2014: Better Markets sued DOJ over JP Morgan settlement.
02/04/2014: JP Morgan Chase paid 614 million in mortgage lending settlement.
01/31/2014: New York judge approved Bank of America settlement over mortgage-backed securities.
10/25/2013: US government reached 51 billion settlement ...[read more]
The non-profit financial reform advocacy group Better Markets filed a lawsuit on Monday against the US Department of Justice (DOJ) to block JPMorgan Chase & Co.'s (JPM) $13 billion settlement that resolved federal and state claims arising from the bank's risky mortgage practices which helped ...[read more]
JPMorgan Chase & Co. (JPM) will pay the US government $614 million and improve company mortgage lending practices under a settlement announced Tuesday for claims it approved thousands of unqualified home mortgage loans for government insurance since 2002 and cost the government millions of ...[read more]
A judge for the
US District Court for the Southern District of New York approved a deal on Wednesday between the US Attorney's Office for the Southern District of New York and JPMorgan Chase to settle the criminal charges of failure to report suspicions about Bernard Madoff's Ponzi scheme. The ...[read more]
The US Department of Justice (DOJ) on Tuesday announced that a $13 billion civil settlement with JPMorgan & Co. has been finalized, resolving federal and state claims arising from the bank's risky mortgage practices which helped lead to the 2008 financial crisis. It is the largest settlement ...[read more]
The Federal Housing Finance Agency (FHFA), acting in its capacity as conservator for Freddie Mac and Fannie Mae, on Friday announced a $5.1 billion settlement with JPMorgan Chase & Co.. The FHFA alleged that JPMorgan misrepresented the quality of the sub-prime mortgages and mortgage securitie... ...[read more]