Author Archive

EU fines first U.S. banks in rate rigging scandal

December 4, 2013

The following article is brought to you by Danielle Douglas at WashingtonPost.Com JPMorgan Chase and Citigroup have become the first U.S. banks fined for the alleged manipulation of benchmark interest rates that affect hundreds of billions of dollars in contracts around the world. On Wednesday, the European Commission slapped six financial giants, including Deutsche Bank, […]

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Additional legal costs for big banks could top $100 billion

November 29, 2013

The following article is brought to you by Chris Isidore at CNNMoney.Com U.S. banks might still be on the hook for more than $100 billion in additional fines and legal costs over bad mortgage loans sold during the financial crisis, according to a new estimate from credit rating agency Standard & Poor’s. But despite that […]

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JPMorgan settlement could pose legal risk

November 29, 2013

The following article is brought to you by Kevin McCoy at USA Today, found at GreenBayPressGazette.Com The admissions JPMorgan Chase agreed to under its record $13 billion settlement with the Department of Justice could represent a new legal liability in ongoing litigation faced by the nation’s largest bank. According to the statement of facts, unidentified […]

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Posted in Home Loan Modifications, Jamie Dimon, JPMorgan Chase | 1 Comment »

Where Does JPMorgan’s $13 Billion Go?

November 22, 2013

The following article is brought to you by BEN PROTESS AND JESSICA SILVER-GREENBERG at NYTimes.Com They were some of the biggest losers in the 2008 financial crisis: Fannie Mae and Freddie Mac, federal taxpayers, state pension funds, credit unions and, of course, homeowners. But their fortunes turned somewhat on Tuesday, when they ended up on […]

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Posted in Home Loan Modifications, Jamie Dimon, JPMorgan Chase | 5 Comments »

JP Morgan Pays $13 Billion to Justice Department to Avoid Investigations

November 4, 2013

The following article is brought to you by Angelina Bouc at GuardianLV.Com Earlier this year federal regulators were ready to prepare a list of enforcement consequences and fines against the largest bank, JP Morgan Chase. This stemmed from pending lawsuits by the Federal Housing Financial Agency – who accused JP Morgan of unlawful practices during […]

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Posted in 'INDEPENDENT' FORECLOSURE REVIEW, Home Loan Modifications, Jamie Dimon, JPMorgan Chase | No Comments »