Western Union pays $586 million and admits to knowing about fraudulent actions
Western Union Co. on Thursday agreed to pay $586 million after admitting to turning a blind eye to criminals who used their service for fraud and money laundering. The US Department of Justice (DOJ) [official...
JPMorgan agrees to settlement on mortgage discrimination complaint
JPMorgan Chase & Co agreed Wednesday to pay $55 million to settle a lawsuit by the US Department of Justice (DOJ) . The lawsuit accuses JPMorgan of discriminating against minority borrowers by allowing...
Hedge fund firm Och-Ziff to pay $412 million in criminal penalty and damages
Hedge fund manager Och-Ziff Capital Management Group LLC (Och-Ziff) has agreed to pay a $412 million settlement, of which up to $213 million are criminal penalties imposed in connection with a widespread scheme involving the...
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....
Federal appeals court rules Bank of America not liable for fraud
The US Court of Appeals for the Second Circuit on Monday overturned a 2013 jury verdict that found Bank of America liable for fraud and imposed a penalty of more than $1.2 billion. The Second Circuit...
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...
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...
The US Supreme Court ruled Tuesday in Jesinoski v. Countrywide Home Loans, Inc. , determining the requirements of the Truth in Lending Act . The court determined that a borrower may exercise...
Supreme Court hears arguments on disclosure of security information
The US Supreme Court heard oral arguments in two cases Tuesday. In Department of Homeland Security v. MacLean the court heard arguments on whether the code of Prohibited Personnel Practices...
