Meet the Banking Caucus, Wall Street's secret weapon in Washington

By Daniel Wagner and Alison Fitzgerald

Industry campaign cash flows to pro-bank activists in Congress, yielding big returns.

Excerpts from this story referencing "Center for Responsive Politics":

"… andidates, more than any other industry, according to data compiled by the Center for Responsive Politics. That’s more than two-and-a-half times the $57 million donated by the he …"

"… 012, members raised an average of $2.6 million, according to data from the Center for Responsive Politics, edging out the powerful Ways and Means Committee. “Members are encoura …"

Debt collectors go after service members despite protections

By Daniel Wagner

Soldiers and sailors are being threatened by debt collectors to pay up on ttheir debts illegally, report says.

Excerpts from this story referencing "Bank of America":

"… ies have pursued several big-name violators of these laws in recent years. Bank of America is paying out $37 million to people who were foreclosed on illegally under …"

Retailers band together to fight health reform law

By Erin Quinn

Companies, trade groups band together to lobby on issues of common interest.

Excerpts from this story referencing "Bank of America":

"… ly on, represent or supply the mailing industry, such as American Express, Bank of America, Conde Nast, the Envelope Manufacturers Association, FedEx, the National R …"

Former subprime executive making risky loans again

By Daniel Wagner

Andy Pollock, who led First Franklin's bad loan factory, is pushing interest-only loans at new firm.

Excerpts from this story referencing "Bank of America":

"… le consumers nearly sank Merrill Lynch, which was forced to sell itself to Bank of America. WDB Funding is the third mortgage company Pollock has helped lead since r …"

Ex-SEC chief now helps companies navigate post-meltdown reforms

By Lauren Kyger, Alison Fitzgerald and John Dunbar

Former regulators profit from their experience with jobs, book deals and speaking fees.

Excerpts from this story referencing "Goldman Sachs":

"… from getting worse. Today, Paulson, whose previous career as chairman of Goldman Sachs made him a very wealthy man, has kept a lower profile, having left banking …"

"… blicly about financial regulation, both at Treasury and when he was CEO of Goldman Sachs. In 2004, while Paulson was CEO, Goldman Sachs wrote to the SEC to argue …"

"… ury and when he was CEO of Goldman Sachs. In 2004, while Paulson was CEO, Goldman Sachs wrote to the SEC to argue in favor of loosening the constraints on how muc …"

"… l Barofsky. AIG’s counterparties — those that were owed — including Goldman Sachs, Deutsche Bank, and Merrill Lynch, were paid face value for their credit d …"

Subprime lending execs back in business five years after crash

By Daniel Wagner

Executives from all of the top 25 subprime lending firms are working in the mortgage business five years later.

Excerpts from this story referencing "Bank of America":

"… ing to a civil complaint filed last year by the Justice Department against Bank of America, which purchased Countrywide in 2008. Kurland and other Countrywide alumn …"

"… an, she says, from roughly $400 per month to more than $800. By that time, Bank of America had bought Countrywide. Fore asked Bank of America to change the loan term …"

"… han $800. By that time, Bank of America had bought Countrywide. Fore asked Bank of America to change the loan terms until her husband’s workers’ compensation set …"

"… reclosure sale reversed so that she and George can remain in the house. A Bank of America spokeswoman said the bank does not comment on open litigation. The company …"

Ex-Wall Street chieftains living large in post-meltdown world

By Alison Fitzgerald

CEOs of banks that fueled the subprime crisis that led to the economic meltdown largely avoid consequences.

Excerpts from this story referencing "Goldman Sachs":

"… rvivors — Jamie Dimon of JPMorgan Chase & Co. and Lloyd Blankfein of Goldman Sachs — have only consolidated their power as they alternate between being see …"

"… e in 2004 after they sold their previous Greenwich home to Robert Steel, a Goldman Sachs executive who became undersecretary of the Treasury in 2006 under Henry Pa …"

"… mie Dimon and Lloyd Blankfein, the leaders of JPMorgan Chase & Co. and Goldman Sachs Group Inc., today stand atop the global financial system, their banks bigg …"

"… is reputation plummeted to its lowest point in 2010 after revelations that Goldman Sachs packaged and sold mortgage securities that appeared designed to fail, and …"

Bear Stearns mortgage executives have plum jobs on Wall Street

By Lauren Kyger and Alison Fitzgerald

Executives from the mortgage finance division that helped sink Bear Stearns have similar jobs at major Wall Street banks.

Excerpts from this story referencing "Goldman Sachs":

"… ing hold similar jobs at the most powerful banks on Wall Street: JPMorgan, Goldman Sachs, Bank of America and Deutsche Bank. The fact they were able to emerge uns …"

"… of asset-backed securities,   was hired as managing director at Goldman Sachs in 2008 and then promoted to global head of mortgage trading in March 2012 …"

"… oted to global head of mortgage trading in March 2012. Andrew Williams, a Goldman Sachs spokesman, declined requests for comment. Verschleiser’s lawyer declined …"

"… t executives. The SEC has settled cases with a handful of banks, including Goldman Sachs, for sums that come to only a fraction of the companies’ quarterly profi …"

Benefit payment change hurts poor

By Daniel Wagner

Move away from paper checks means big money for bank, confusion for some Social Security beneficiaries.

Excerpts from this story referencing "Bank of America":

"… d by states and other governments to deliver payments to consumers include Bank of America, J.P. Morgan Chase, U.S. Bancorp and Citigroup. Comerica offered to issue …"

Super PAC to tout North Carolina House speaker

By Michael Beckel

Group launched to tout North Carolina House Speaker Thom Tillis ahead of potential Senate run.

Excerpts from this story referencing "Bank of America":

"… the years include the North Carolina Association of Realtors, Duke Energy, Bank of America and AT&T, according to the nonpartisan National Institute on Money in …"

Senators investigating Apple own company stock

By Dave Levinthal and Reity O'Brien

Heitkamp, Carper report stock together worth hundreds of thousands of dollars.

Excerpts from this story referencing "Bank of America":

"… f other massive companies such as General Electric, ExxonMobil, Pfizer and Bank of America, according to the Center for Responsive Politics.     …"

Mel Watt enjoys close ties to financial industries

By Alison Fitzgerald

Bank leaders, PACs made prospective housing agency leader a top recipient of campaign cash.

Excerpts from this story referencing "Goldman Sachs":

"… P. During the last election cycle, the political action committees of Goldman Sachs, Bank of America and Wells Fargo each gave Watt’s campaign $10,000.  …"

Bank of America, unions among newly named inauguration sponsors

By Dave Levinthal

Sponsors of Obama's second inaugural have spent nearly $283 million on lobbying since 2009.

Excerpts from this story referencing "Bank of America":

"… deral Election Commission until 90 days after Monday’s inauguration. …"

"… eral lobbying since 2009, while Coca-Cola has spent nearly $25 million and Bank of America more than $12.8 million, federal disclosures show. The Forest County Pota …"

ALEC's decades of 'right-to-work' effort pay off in Michigan

By Paul Abowd

Think tank’s 32-year 'right-to-work' campaign succeeds in union stronghold

Excerpts from this story referencing "Bank of America":

"… largest non-union and anti-union companies, including McDonalds, Wal-Mart, Bank of America and MillerCoors. All four of the companies quit the organization this year …"

Bailed-out banks, Freddie Mac, AIG gave $6 million to 2008 conventions

By John Dunbar and Michael Beckel

Corporate donors to 2008 party conventions included financial institutions bailed out by government.

Excerpts from this story referencing "Bank of America":

"… oldman Sachs and Citigroup; $150,000 from Morgan Stanley and $100,000 from Bank of America.Most of the banks and other institutions that made contributions to the co …"

Report: Some lose homes over as little as $400

By The Associated Press

Some homeowners lose houses for a little as $400 in overdue taxes, consumer group says

Excerpts from this story referencing "Bank of America":

"… ent auctions the lien to investors. Past investors include JPMorgan Chase, Bank of America and people who respond to Internet get-rich schemes, the report said. Home …"

"… said Florida alone sold $2 billion worth of tax liens in 2008.JPMorgan and Bank of America both said they have stopped buying and bundling and reselling tax liens bu …"

Report: Countrywide won influence with discounts

By The Associated Press

Subprime lender Countrywide bought influence of Washington elite with mortgage discounts

Excerpts from this story referencing "Bank of America":

"… volume of Countrywide's subprime mortgages. Countrywide was taken over by Bank of America in January 2008, relieving the financial services industry and regulators …"

"… er chairman of the Oversight Committee. Towns issued the first subpoena to Bank of America for Countrywide documents, and current Chairman Darrell Issa, R-Calif., su …"

"… re documents. The committee said that in responding to the Towns subpoena, Bank of America left out documents related to Towns' loan.—Rep. Elton Gallegly, R-Calif. …"

Countrywide whistleblower chosen for Ridenhour award

By Michael Hudson

Countrywide whistleblower chosen for Ridenhour award for truth-telling in the public interest.

Excerpts from this story referencing "Bank of America":

"… gainst workers who raise questions about fraud or other problems. …"

"… former top mortgage fraud investigator at Countrywide Financial Corp. and Bank of America, was one of the five people honored with Ridenhour Prizes this week. …"

"… nt documents.  The U.S. Department of Labor ruled last year that Bank of America had improperly fired Foster for leading internal investigations that “re …"

"… pay her some $930,000.Foster, who worked first at Countrywide and then at Bank of America after it acquired Countrywide in 2008, claimed that Countrywide executives …"

Beer and wine wholesalers behind legislators pushing controversial voter ID laws

By Paul Abowd

Wholesalers among those behind legislators pushing controversial new election rules.

Excerpts from this story referencing "Bank of America":

"… 2007 and 2010 by ALEC member corporations including Time Warner, AT&T, Bank of America. In addition, since 2007 the state-based beer wholesaler association has g …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

Excerpts from this story referencing "Bank of America":

"… t with five major lenders.  A suit unsealed March 7 alleges that Bank of America fraudulently misled borrowers and regulators in order to keep customers ou …"

"… ted.As a condition of accepting $45 billion from the federal bank bailout, Bank of America promised to help move troubled borrowers into the taxpayer subsidized Home …"

"… gory Mackler, formerly an employee of Urban Lending Solutions, the company Bank of America contracted to manage HAMP complaints.Mackler claims the company developed …"

"… were eligible for federally subsidized loan modifications.The suit claims Bank of America:Told borrowers and regulators that a complaint was “under review” whil …"

Virginians protest General Electric over foreclosures

By Amy Biegelsen and Emma Schwartz

Group says company should reinvest where its loans went bad

Excerpts from this story referencing "Bank of America":

"… y begun negotiations for reinvestments with other major lenders, including Bank of America. The event came on the same day President Obama announced a new initi …"

Raging against the foreclosure machine

Automated foreclosure process creates errors, stifles modifications and enrages helpless homeowners

Excerpts from this story referencing "Bank of America":

"… person,” said William Allen, a retiree near Baltimore who is fighting a Bank of America foreclosure.  “I worked on it nearly a year and it didn’t do me a …"

"… ntatives.Federal regulators also say they have done their part: last year, Bank of America, Wells Fargo, JPMorgan Chase and other big servicers agreed to give more t …"

"… icer is a branch of the same Wall Street bank that created the investment. Bank of America, which acquired Countrywide’s notoriously troubled loan portfolio (along …"

"… are anything was amiss until a year later when they received a letter from Bank of America, which had recently purchased the servicing rights on their loan, demandin …"

Bank of America to pay record settlement over Countrywide abuses

By John Dunbar

Bank of America to pay record settlement over Countrywide abuses

Excerpts from this story referencing "Bank of America":

"… s occurred between 2004 and 2007, the peak of the subprime borrowing craze. …"

"… anic victims are identified in the complaint and will receive compensation.Bank of America in a statement said that it does not discriminate. The abuses occurre …"

Management gurus claim they were blindsided by toxic culture at Countrywide

By Michael Hudson

Survey showed Countrywide suffered from bad ethics, bad management, ex-employee says

Excerpts from this story referencing "Bank of America":

"… dge later ordered the case into private arbitration.Last week, Niemela and Bank of America, which bought Countrywide in 2008, reached a confidential settlement of he …"

"… took place before the settlement was reached.As the case was being argued, Bank of America denied that Countrywide officials mistreated Niemela.The bank’s lawyers …"

"… el employees were harassed for reporting fraudulent lending practices.Bank of America has appealed the jury’s decision. A spokeswoman said the verdi …"

"… to defend herself, Niemela alleged.Soon after, in May 2007, she was fired.Bank of America’s lawyers maintained that Niemela had given “several different version …"

Judge in Citigroup case has bucked trend of rubber stamping SEC settlements

SEC has long history of settling cases without requiring companies to admit guilt

Excerpts from this story referencing "Goldman Sachs":

"… arbara Jones recently approved the agency’s $535 million settlement with Goldman Sachs, and federal judge Richard Berman recently OK’d a $154 million settlemen …"

GOP candidates in foreclosure capital say government not the solution to crisis

By Michael Hudson

Republican candidates in Nevada say foreclosure mess will go away if government stays out of it

Excerpts from this story referencing "Bank of America":

"… fired for reporting widespread fraud at the lender, which is now owned by Bank of America. A Congressional investigation found that Washington Mutual executives cre …"

Inside Countrywide, a ‘counseling meeting’ then termination

By Michael Hudson

Whistleblower suffers cancer, then termination from employment

Excerpts from this story referencing "Bank of America":

"… was also carried out or condoned by upper-level executives.A spokesman for Bank of America, which purchased Countrywide in 2008, declined to answer questions about E …"

"… ording to the clerk’s office for Arapahoe County (Colo.) District Court. Bank of America didn’t respond to a request for a response about Eisenman’s allegation …"

"… ass the administrative process within the Labor Department.A spokesman for Bank of America didn’t respond to questions about Wingard’s claims. …"

Mortgage industry tanks, fraud continues at Countrywide

By Michael Hudson

As the mortgage industry melted down, fraud investigator kept up the pressure, soon lost her job

Excerpts from this story referencing "Bank of America":

"… climbing, and the industry leader, Countywide, would soon be forced to ask Bank of America for an infusion of capital to help it keep afloat.The fraud investigation …"

"… tes for account statements from various banks and brokerage firms, such as Bank of America and Washington Mutual.In some of the offices, investigators found more tha …"

"… and that its ethical standards were “rigorously enforced.”Zachary and Bank of America reached an out of court settlement in the case in 2009. As part of the set …"

"… thout them, it wouldn’t work.”‘A rare opportunity’In January 2008, Bank of America announced that it had reached a deal to purchase Countrywide, which had lo …"

Obama's new plan for underwater mortgages may be too little too late

By Michael Hudson

Obama orders Fannie and Freddie to work with borrowers; earlier programs helped only a few

Excerpts from this story referencing "Bank of America":

"… essment, Treasury determined that the servicing arms of J.P. Morgan Chase, Bank of America, and Wells Fargo Bank all required “substantial improvement.” Treasury …"

Investor protections imperiled by Wall Street, GOP assault on financial reform

By John F. Wasik

Wall Street and GOP assault consumer protections in Dodd-Frank reforms

Excerpts from this story referencing "Bank of America":

"… Bankers Association, $1.7 million from JP Morgan Chase, $1.6 million from Bank of America and $1.3 million from Wells Fargo. By imposing restrictions and curtailin …"

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