US National Security Council spokesperson Caitlin Hayden announced on Friday that the White House is placing new sanctions on over 30 organizations and individuals with ties to Iran. The sanctions come as the US continues to negotiate with Iran regarding the future of the country's controversial ...[read more]
The US Court of Appeals for the District of Columbia Circuit on Tuesday rejected Wells Fargo & Co's contention that the bank's participation, along with other national banks, in a $25 billion settlement with the US government over foreclosure abuses should bar claims bring in a separate civil ...[read more]
The Islamabad High Court on Thursday ordered the arrest of former Central Intelligence Agency (CIA) official Jonathan Banks for his involvement in a 2009 drone strike that killed civilians. Kareem Khan, whose brother and son were killed in the drone strike in Waziristan, had petitioned the court ...[read more]
The US Supreme Court ruled unanimously Monday in Robers v. United States that the Mandatory Victims Restitution Act (MVRA) requires restitution calculation based upon the property a lender loses, not upon the collateral the lender receives. In 2005, petitioner Benjamin Robers submitted fraudulent ...[read more]
The US Supreme Court heard oral arguments Monday in two cases. In Republic of Argentina v. NML Capital Ltd. the court heard arguments on whether a hedge fund could subpoena banks for information about Argentina's non-US assets following the country's default on $100 billion in sovereign debt in ...[read more]
The US Court of Appeals for the District of Columbia Circuit on Friday overturned a lower court that struck down the Federal Reserve's cap on how much banks are permitted to charge businesses for debit card transactions. The lawsuit was initiated by a coalition of retail groups that argued that ...[read more]
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]
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]
The Financial Crimes Enforcement Network (FinCEN) issued guidelines on Friday for banks to provide services to legal marijuana-related businesses. The guidance document lists eight priorities in line with those of the Department of Justice (DOJ) policy of marijuana law enforcement, including ...[read more]
02/05/2014: Michigan governor included Detroit's pension bailout in budget.
01/16/2014: Detroit 165 million dollar bankruptcy settlement rejected.
12/18/2013: Federal judge ruled Detroit bankruptcy deal too generous towards banks.
12/03/2013: Federal court ruled Detroit eligible for ...[read more]