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 "Wells Fargo":

"… r lending and finance companies, is married to a banker who has worked for Wells Fargo and Citigroup. Himes spent 12 years at Goldman Sachs Group Inc. before joi …"

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 "Neil Barofsky":

"… n 25 years. “Every single one of these companies was insolvent,” said Neil Barofsky, the former special inspector general overseeing the bailout, which was ca …"

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 "spokesman":

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

"… tein declined requests for interviews through Zia Ahmed, a Bank of America spokesman. Mary Haggerty Mary Haggerty was a co-head of mortgage finance at Bear. …"

"… ducts group. Haggerty declined a request for an interview through JPMorgan spokesman Mark Kornblau. Kornblau also declined to comment on behalf of the com …"

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 "Comerica":

"… accounts — are being pressured into using prepaid debit cards offered by Comerica Bank, an effort that is shifting costs to elderly people, veterans and oth …"

"… or the bank while Treasury took over responsibilities that were originally Comerica’s. Now millions of poor people who rely on Social Security and Suppleme …"

"… deposit to a bank account.  Meanwhile, Treasury is saving money and Comerica is booking profits. “To stand in the way of the purpose of the programs …"

"… inspector general, its independent, internal watchdog, is looking into the Comerica deal. Paper or plastic? It costs the U.S. government $1.05 to print and …"

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 "Raytheon":

"… azeera America, Comcast, drugmaker Merck, the PGA Tour, defense contractor Raytheon and ZTE USA, the American subsidiary of a Chinese telecom company that has …"

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 "Iran":

"… ettle regulators’ claims that it had violated economic sanctions against Iran, Cuba and other countries under U.S. embargoes. In January, a consent ord …"

"… banks of choice for Philippine President Ferdinand Marcos and the Shah of Iran, strongmen who looted their countries’ treasuries during their decades i …"

"… bsp;had ignored legal bans on doing business with Cuba, Sudan, Liberia and Iran. After the department subpoenaed information about one suspect transactio …"

"… 000 ounces of gold bullion, worth more than $20 million, to a bank in Iran. The agency charged that bank managers and supervisors knew about th …"

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 "PACs":

"… ;Wal-Mart, according to filings with the U.S. Senate. Meanwhile, the PACs of Van Scoyoc Associates, Williams and Jensen and Cassidy & Associates …"

"… 0,000 it boasted following the 2008 cycle. Unlike freewheeling super PACs that may accept unlimited donations, traditional PACs may only raise …"

"… ling super PACs that may accept unlimited donations, traditional PACs may only raise up to $5,000 from an individual per year, making reple …"

"… ed to give money directly to a politician's campaign, something super PACs are banned from doing. Heavy PAC spending contributes to lower reserves a …"

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 "insurance":

"… be even more jaw dropping than they already are.  …"

"… . If you enroll in one of their plans, the government sends a check to the insurance company you choose for your coverage. The amount varies depending on where …"

"… tes for a single payer system, the federal government has overpaid private insurance companies under the Medicare Advantage program and its predecessors more t …"

"… plan have received almost twice as much in campaign contributions from the insurance industry this election cycle as members who voted against it ($14 million …"

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 "Federal Election Commission":

"… th party conventions, according to a Center for Public Integrity review of Federal Election Commission filings — $3.4 million to Republicans and $2.6 million to DemocratsThe t …"

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 "health insurance industry":

"… ntention of repealing the Affordable Care Act because their friends in the health insurance industry are counting on major provisions of the law going forward, especially the …"

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 "Citigroup":

"… ed these challenges as mere annoyances, but no longer. Certainly not after Citigroup’s shareholders made front page headlines last week when they voted again …"

"… gainst the bank’s $15 million pay package for its CEO.If shareholders of Citigroup, which with a market cap of almost $100 billion is more than seven times a …"

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 "Germany":

"… odity Futures Trading Commission, and Phil Murphy, U.S. ambassador to Germany. But in its zeal to build its case against Obama, American Future Fund str …"

Raging against the foreclosure machine

By Ben Hallman

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

Excerpts from this story referencing "Citigroup":

"… four big bank-owned servicers along with Bank of America, Wells Fargo, and Citigroup, says that it concluded that modification is a better alternative by about …"

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 "JPMorgan Chase":

"… ederal judge Richard Berman recently OK’d a $154 million settlement with JPMorgan Chase. And despite Judge Rakoff’s treatment of their cases, the SEC is unlikel …"

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 "high-level sales manager":

"… in violation of federal lending laws.But when she pressed the issue with a high-level sales manager, Hagman later testified in a Labor Department hearing, he jumped out of hi …"

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 "Italy":

"… 2008 financial crisis -- partly on fears the global debt crisis may hammer Italy and Spain into default. The European Union has already given financial aid …"

"… ce and Ireland, and some experts worry that additional rescue packages for Italy or Spain – or both – could be more than the EU can handle.Other financ …"

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 "Federal Deposit Insurance Corp":

"… ecurities.FDIC chairman’s farewell tour – The outgoing chairman of the Federal Deposit Insurance Corp. says Congress could hurt the U.S. financial system if it fails to give re …"

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 "president":

"… spaper. But some bankers say they still plan to vote for Obama, saying the president’s bark has been much worse than his bite when it comes to regulatory ove …"

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 "Federal Deposit Insurance Corp":

"… ause them to lose business to overseas banks. But Sheila Bair, head of the Federal Deposit Insurance Corp., and Federal Reserve Gov. Daniel Tarullo have said requiring banks to hol …"

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 of America":

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

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 "Citigroup":

"… ording to a recent in-depth study of the 33 nonprofit Blues in the U.S. by Citigroup analyst Carl McDonald, Blue Shield of California is one of the most profit …"

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 "bank":

"… cause investors to cease making U.S. investments.” …"

"… ng U.S. investments.” …"

"… ll keep it safe and secret. That was the modus operandi of UBS, the Swiss banking giant that was forced to admit holding billions of dollars in covert ac …"

"… cans trying to avoid U.S. taxes. It is also a tactic used by big American banks to solicit deposits from wealthy citizens in Third World countries, accor …"

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 "Jon Tester":

"… cap by delaying it for at least two years.The bill, introduced by Democrat Jon Tester of Montana, is supported by about 55 senators, according to American Banke …"

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 "bank":

"… t indicate Deutsche bank and other big financial firms knew they were bankrolling toxic mortgages and then offloading them into equally toxic investm …"

"… ittee on Investigations  highlights the role that Germany’s largest bank played in fueling the mortgage investment frenzy that sparked the U.S. hou …"

"… just a salesman of mortgage-related investments.During the boom years, the bank was an important patron of the U.S. subprime industry, providing billions …"

"… h subprime lenders during the mortgage boom. As for the Senate report, the bank said that “there were divergent views within the bank about the U.S. hou …"

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 "Troubled Asset Relief Program":

"… isastrous results,” Neil Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), said in a 77-page report released today.“The market still giv …"

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 "financing for lawsuit lenders":

"… ncluding Citigroup, Commerce Bank of New Jersey and Credit Suisse provided financing for lawsuit lenders. More recently, some banks have started cutting out the middlemen. Deutsch …"

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 "Bank":

"… , and, it seems, in Bankruptcies.Consider the failure of Washington Mutual Bank, seized by federal regulators in the fall of 2008 and quickly sold in a fi …"

"… run on the Bank that followed the failure of another institution, IndyMac Bank. That month, spooked investors withdrew nearly $10 billion from WaMu.There …"

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