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

Posted by on December 4, 2013 at 10:42 am

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, […]

Additional legal costs for big banks could top $100 billion

Posted by on November 29, 2013 at 11:41 am

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 […]

JPMorgan settlement could pose legal risk

Posted by on November 29, 2013 at 11:40 am

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 […]

Where Does JPMorgan’s $13 Billion Go?

Posted by on November 22, 2013 at 12:18 pm

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 […]

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

Posted by on November 4, 2013 at 8:59 am

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 […]