Homeowners steamrolled as Florida courts clear foreclosure backlog

By Alison Fitzgerald

Why are Florida's courts rushing to clear more than 700 foreclosure cases per day?

Excerpts from this story referencing "Citigroup":

"… ervicers, Bank of America, JPMorgan Chase, Ally Financial (formerly GMAC), Citigroup, and Wells Fargo. That was the case that led to the massive settlement th …"

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 "lobbyist":

"… -person committee staff, dozens of congressional colleagues and legions of lobbyists lined up to beat back any attempt to impose new discipline on the industr …"

"… 9-page law designed to prevent another failure. There are more than 2,000 lobbyists for financial firms and trade groups and many are spreading money around …"

"… wmakers under constant pressure to raise money, Miller said, deep-pocketed lobbyists “don’t have to worry about having access to members, because all you …"

"… ting with a strict, top-down style, Hensarling’s staff, with the help of lobbyists, orchestrates hearings, decides which proposals by regulators merit a let …"

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 "American International Group":

"… onday, Sept. 15, and ended with the $80 billion bailout of insurance giant American International Group and the sales of Merrill Lynch to Bank of America, Wachovia to Wells Fargo …"

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 "Bank of America":

"… r 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 unscathed from a fin …"

"… n in the affidavit. These flaws are entirely unacceptable to me." ResCap, Bank of America, JPMorgan Chase, Wells Fargo, and Citigroup settled for $25 billion&n …"

"… e in the tony New York City suburb of Port Washington and work together at Bank of America in the divisions that issue mortgage-backed securities and collateralized …"

"… Os in 2006 alone. He’s now head of mortgages and securitized products at Bank of America. Silverstein, once a senior managing director at Bear and co-head of mort …"

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 "Citigroup":

"… to consumers include Bank of America, J.P. Morgan Chase, U.S. Bancorp and Citigroup. Comerica offered to issue the Direct Express cards at no cost to Treasur …"

Lobbying firm PACs start 2013 slow

By Dave Levinthal

Few raising or spending big money early in 2013 — if at all.

Excerpts from this story referencing "Citigroup":

"… his year include corporate titans such as insurer Aetna, Barclays, Boeing, Citigroup, ExxonMobil, General Electric, insurer MetLife, Microsoft, New York Life I …"

JPMorgan Chase’s record highlights doubts about big banks’ devotion to fighting flow of dirty money

By Michael Hudson

JPMorgan Chase’s record highlights doubts about devotion to fighting flow of dirty money

Excerpts from this story referencing "Citigroup":

"… of suspect cash. Last year U.S. authorities reached settlements with HSBC, Citigroup and UK-headquartered Standard Chartered Bank over alleged money-laundering …"

Lobbyist PACs hurting for cash following election

By Dave Levinthal

Political cash machines of many top government affairs shops see a slow start to 2014 election cycle.

Excerpts from this story referencing "Citigroup":

"… cy department. The firm's dozens of recent clients include AT&T, Citigroup, Delta Airlines, Facebook, FedEx, General Electric, Goldman Sachs, the Lan …"

OPINION: Who wins with Medicare Advantage?

By Wendell Potter

Medicare Advantage plans are profit centers for private insurance companies because of government incentives to participate.

Excerpts from this story referencing "Citigroup":

"… utional investors that own the majority of health insurance company stock. Citigroup analyst Carl McDonald predicts that should Romney win and the GOP take the …"

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 "San Diego":

"… al Telephone & Telegraph offered $400,000 if the GOP would bring it to San Diego. Eight days later, the administration of President Richard Nixon dropped a …"

"… in the press, Republicans tried to save face and moved the convention from San Diego to Miami Beach.The scandal prompted Congress to enact a new law that would …"

OPINION: Why insurers want ObamaCare's Medicaid business

By Wendell Potter

Pay no attention to GOP governors; health insurers want that new Medicaid business.

Excerpts from this story referencing "Carl McDonald":

"… to get more business in the public sector. As Citigroup financial analyst Carl McDonald wrote in his report about WellPoint’s proposed acquisition of AmeriGroup …"

ANALYSIS: Shareholders raising ruckus about CEO pay

By Wendell Potter

Big pay raises and parting bonuses increasingly raising ire of shareholders.

Excerpts from this story referencing "WellPoint":

"… r’s campaign as a reason why they are trying to get another big insurer, WellPoint, to disclose all of its corporate political and lobbying expenditures. A c …"

"… ition of activist investor groups is even demanding the resignation of two WellPoint board members, including Susan Bayh, the wife of former Sen. Evan Bayh, D- …"

"… ivist investors, led by Dr. Robert Stone, will once again be attending the WellPoint annual meeting next month to encourage other shareholders to support his c …"

"… meeting next month to encourage other shareholders to support his call for WellPoint’s Blue Cross plans to revert to their nonprofit status.Insurance company …"

FACT CHECK: Obama White House ‘full of Wall Street executives’?

By FactCheck.Org

Conservative super PAC runs ad on 'Obama's Wall Street Inner Circle'

Excerpts from this story referencing "Citigroup":

"… get director.Orszag had no Wall Street experience before joining Citigroup after he left the administration. His background is in governmen …"

"… White House — including White House budget director Jacob Lew (Citigroup) and former chief of staff William Daley (J.P. Morgan Chase). He …"

Raging against the foreclosure machine

By Ben Hallman

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

Excerpts from this story referencing "GMAC":

"… were thrilled to sign up for a modification plan with their loan servicer, GMAC Home Mortgage, Cassandra Gray said. The modification lowered their paymen …"

"… wered their payment from $1,128 to $768 per month. But after three months, GMAC began returning their payments, the Grays claim in a complaint filed with …"

"… claim in a complaint filed with the North Carolina Commissioner of Banks. GMAC customer service representatives told them there was a “computer glitch …"

"… s a “computer glitch” and that the problem would be resolved. Instead, GMAC twice started a foreclosure action. GMAC claimed it had no record of any …"

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 "David Martin":

"… al agencies, including the Federal Deposit Insurance Corp., do so as well. David Martin, a former SEC attorney who now practices at Covington & Burling in Was …"

Whistleblowers ignored, punished by lenders, dozens of former employees say

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Excerpts from this story referencing "bank failure":

"… r 2008, a $300 billion institution buried in bad loans. It was the largest bank failure in American history — and one of the biggest casualties of risky practic …"

As housing crisis festers, mortgage servicers spend $8 million on political contributions

By Michael Hudson and Aaron Mehta

Mortgage servicers pony up $8 million in political donations as housing crisis festers

Excerpts from this story referencing "Citigroup":

"… negotiating with the firms — Bank of America, JP Morgan Chase & Co., Citigroup, Wells Fargo & Co. and Ally Financial Inc. — over allegations of wid …"

"… ive companies under scrutiny—Bank of America, JP Morgan, Wells Fargo and Citigroup — are major donors for state and federal political campaigns. Between th …"

"… s committee’s Subcommittee on Financial Institutions and Consumer Credit.Citigroup has given $850,000 to candidates, party committees and other PACs since th …"

U.S. stock market plunge followed Financial Stability Oversight Council warning

By Michael Hudson

Financial Stability Oversight Council's warning of fragile markets borne out by stock market plunge

Excerpts from this story referencing "European Union":

"… fears the global debt crisis may hammer Italy and Spain into default. The European Union has already given financial aid to member countries Greece and Ireland, an …"

No unemployment worries for bank lobbyists in Washington, where business is booming

By Shirley Gao

Big banks bulking up Washington offices by hiring more lobbyists

Excerpts from this story referencing "Citigroup":

"… cial services companies are hiring more lobbyists to influence the process.Citigroup, JPMorgan Chase & Co., TD Bank and Fifth Third Bank are among the bank …"

"… nks that have added Washington staff in the past year.  For instance, Citigroup hired Candida Wolff, an ex-Bush administration legislative affairs liaison …"

“Go tell a Republican,” Rep. Frank says to complaints that Congress has failed to curb foreclosures

By Julie Vorman

Foreclosure complaints? "Go tell a Republican" says Rep. Frank

Excerpts from this story referencing "Bank":

"… convicted of a billion-dollar mortgage fraud, and it also audited Colonial Bank, a lender that participated in the fraud and eventually collapsed, McKenna …"

"… d eventually collapsed, McKenna says. And PwC audits the Federal Home Loan Banks, which ended up with many of the flawed mortgage-backed securities.FDIC c …"

"… ir, a Republican ending her five-year term as FDIC chief, urged the Senate Banking Committee members to support financial regulators. “Without proper fu …"

"… big Banks, including JPMorgan Chase & Co., Citigroup, Wells Fargo and Bank of America. …"

Senior Treasury Dept. official is latest financial regulator to resign

By Julie Vorman

Yet another senior vacancy among banking regulators

Excerpts from this story referencing "Citigroup":

"… head dinner were the heads of JPMorgan Chase & Co., Goldman Sachs and Citigroup, reports the New York Times’  Dealbook.  “It would be bad fo …"

International regulators order mega-banks to boost capital to 9.5 percent

By Shirley Gao

International regulators order mega-banks to boost capital to 9.5 percent

Excerpts from this story referencing "Citigroup":

"… ent, bringing their capital up to 10.5 percent.That means Bank of America, Citigroup, and JPMorgan Chase & Co. will need a combined $150 billion of extra c …"

Reform reading: Will Warren aide fill top job at new consumer agency?

By Shirley Gao

Reform reading: Will Warren aide fill top job at new consumer agency?

Excerpts from this story referencing "Bank":

"… te Raj Date, a former Banker with Capital One Financial Corp. and Deutsche Bank AG, to head the Consumer Financial Protection Bureau, Bloomberg News and o …"

"… ercent equity to fund their asssets, may be a model for megaBanks, he says.Bank capital requirements – U.S. regulators aim to increase Banking capi …"

"… s being ineffective and too soft on participating mortgage servicers. Bank of America, JP Morgan Chase & Co., and Wells Fargo failed to meet HAMP …"

ANALYSIS: Blue Shield of California's refund is peanuts compared to its profits

By Wendell Potter

ANALYSIS: Don't take Blue Shield's $180 million refund offer at face value

Excerpts from this story referencing "spokesman":

"… ater it changed its mind. The company decided to cancel the increase, said spokesman Tom Epstein in March, “because we wanted to give our members the most af …"

As IRS crusades against Americans hiding money offshore, Latin American tax cheats flock to U.S. banks

By Michael Hudson

U.S. and its banks called "biggest tax haven" in world

Excerpts from this story referencing "Mexico":

"… U.S. tax haven practices. The American government provides little help to Mexico and other poorer countries whose citizens have squirreled money in the Uni …"

"… h, have been raising questions about U.S. banking secrecy. In early 2009, Mexico’s Secretary of Finance Agustin Carstens wrote U.S. Treasury Secretary Ti …"

"… ata about Mexican citizens’ U.S. accounts. Because the United States and Mexico don’t exchange information, Carstens wrote, both individual tax evaders …"

"… .S. Treasury officials didn’t respond to questions from iWatchNews about Mexico’s request. The political distrust of efforts to reduce U.S. bank secrec …"

Regulatory brawl over debit cards sidesteps the real fee-setters: card companies

By Amy Biegelsen

Lobbying brawl sidesteps the real fee-setters: card companies

Excerpts from this story referencing "JPMorgan Chase":

"… and MasterCard of anti-competitive behavior.Whether a customer’s bank is JPMorgan Chase or Bank of America, swipe fees the merchants pay to a specific card compan …"

"… thored the Dodd-Frank amendment requiring a cap on debit swipe fees. After JPMorgan Chase CEO Jamie Dimon criticized the debit fee at length in his annual lett …"

Data shows Deutsche Bank was key patron of questionable mortgage lenders

By Michael Hudson

Data shows Deutsche Bank was key patron of questionable mortgage lenders

Excerpts from this story referencing "Ameriquest Mortgage":

"… d the securities, which were underpinned by home loans from subprime giant Ameriquest Mortgage, were, quite simply, “crap.”For U.S. Senate investigators, the email i …"

TARP watchdog sounds alarm about "too big to fail" banks

By Julie Vorman

For U.S. banks, bigger is still better despite the financial reform law’s attempt to rein in “too big to fail” institutions, a government wa

Excerpts from this story referencing "Morgan Stanley":

"… lls Fargo & Co. with $1 trillion, Goldman Sachs with $880 million, and Morgan Stanley with $820 million.Together the six largest U.S. banks’ assets were worth …"

Betting on Justice: Borrowing to sue

By Binyamin Appelbaum and Ben Hallman

Large banks, hedge funds and private investors hungry for new and lucrative opportunities are bankrolling other people’s lawsuits, pumping h

Excerpts from this story referencing "Law":

"… er. By the time she won $169,125 in 2003, the lenders were owed $221,000. Lawyers are not required to tell clients that they have borrowed money, so the …"

"… rst litigation finance companies in 1994, in San Francisco, now called the LawFinance Group. “If there’s less money, you’d have less litigation. Bu …"

"… k hedge fund to finance the cases. Credit: Scott Dalton/The New York Times.Lawsuit lending is a child of the subprime revolution, the mainstream embrace …"

"… terest rates that began in the early 1990s. Zimmerman, the founder of the LawFinance Group, practiced Law for more than two decades before moving into f …"

WaMu examiner sheds new light on bankruptcy, criticizes FDIC for lack of cooperation

Joshua Hochberg's report on the fall of Washington Mutual discloses no Lehman-like allegations of accounting chicanery, nor does it establis

Excerpts from this story referencing "Citigroup":

"… he debt of the holding company was too great.A handful of banks, including Citigroup, Wells Fargo, and Banco Santader in Brazil had expressed interest in acqui …"