August 21, 2014
by William Hibbitts
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, $9.65 billion will be split among federal and state entities while the remaining ...[read more]
July 15, 2014
by Taylor Gillan
Citigroup, Inc. on Monday agreed to pay $7 billion to settle a federal inquiry into mortgage-backed securities sold by the bank prior to the country's financial crisis. The deal, which involves one of the largest cash penalties ever paid to settle such allegations, includes a $4 billion civil ...[read more]
May 28, 2014
by Addison Morris
Authorities in Ecuador on Tuesday announced, via Twitter, the issuance of an arrest warrant for former president Jamil Mahuad on the grounds that he allegedly misappropriated public funds during the late 1990s. Interior Minister Jose Serrano stated that a "red notice" had been issued by Interpol ... ...[read more]
February 25, 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. ...[read more]
February 24, 2014
by Neil Devlin
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]
November 20, 2013
by Elizabeth LaForgia
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]
November 12, 2013
by Elizabeth LaForgia
A federal judge on Monday recommended that e-mails and other data collected by a large due-diligence firm for Wall Street banks should be turned over to the Department of Justice (DOJ), a move that may determine which banks the government will bring to court for their part in the 2008 financial ...[read more]
November 9, 2013
by Kenneth Hall
JURIST Guest Columnist Bashar Malkawi of the University of Sharjah College of Law in the United Arab Emirates argues that shadow banking in China, while valuable, remains illegal and contains systemic risk factors that should be mitigated by including it within the scope of established financial ...[read more]
August 7, 2013
by Samuel Franklin
The US Department of Justice (DOJ) on Tuesday filed suit against Bank of America (BOA) in the US District Court for the Western District of North Carolina, claiming the corporation misled investors about securitized loans worth more than $850 million. The complaint alleges that BOA deceived ...[read more]
March 19, 2013
by Peter Snyder
Citigroup, Inc. agreed on Monday to pay out $730 million to settle a lawsuit brought by investors claiming the financial services corporation misled debt investors about its condition during the financial crisis. According to a statement from Citigroup, the agreement will settle "a class action ...[read more]

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