Prison banker cuts fees after Center report

By Daniel Wagner

A prison financial services company cut the fees it charges inmates' families after Center report on high costs.

Excerpts from this story referencing "Florida":

"… t funds sent by mail but most offer money order deposits as a free option. Florida, an outlier, charges its own processing fee for money order deposits. Befo …"

"… with Kansas to eliminate the fee for money order deposits in that state. Florida also charges a 50 cent fee for money order deposits, according to the stat …"

Center report spurs investigation of Bank of America, JPMorgan prison deals

By Daniel Wagner

No-bid contracts with Bank of America and JPMorgan under government scrutiny after Center report.

Excerpts from this story referencing "Bank of America":

"… inmates. …"

"… audit Treasury’s “awarding and administration” of the contracts with Bank of America and JPMorgan “in response to recent media reports concerning the selecti …"

"… petitive bidding or transparency requirements for most federal contracts. Bank of America has been paid at least $76.3 million by Treasury to manage inmates’ acco …"

"… hing, phone calls, food and other expenses. Treasury says the payments to Bank of America were reimbursed by the Department of Justice, the Bureau of Prisons’ par …"

Senator questions Bank of America’s no-bid prison deal

By Daniel Wagner

After a Center report, Sen. Charles Grassley, R-Iowa, says Bank of America's no-bid prison banking deal "raises significant questions"

Excerpts from this story referencing "Charles Grassley":

"… financial services in all federal prisons. In a letter sent Friday, Sen. Charles Grassley, R-Iowa, asked Treasury how the deal can protect taxpayers from fraud and …"

Megabanks have prison financial services market locked up

By Daniel Wagner

Bank of America and JP Morgan Chase & Co. avoid competitive bidding process in contracts serving federal prisoners.

Excerpts from this story referencing "Bank":

"… erforms money transfers for 70 percent of U.S. offenders. On Wall Street, Bank of America plays a perpetual second fiddle to JPMorgan Chase & Co., th …"

"… the New York Metropolitan Correctional Center, there exists a market that Bank of America has locked down, literally. For the 790 federal prisoners incar …"

"… locked down, literally. For the 790 federal prisoners incarcerated at MCC, Bank of America controls the provision of money transfers, e-messaging and some …"

"… f Prisons system — 121 institutions housing 214,365 inmates. Since 2000, Bank of America has collected at least $76.3 million for its work on the progra …"

Prison bankers cash in on captive customers

By Daniel Wagner

Private company profits by helping prisons squeeze inmates' families for cash.

Excerpts from this story referencing "JPay Inc.":

"… f last year, the Virginia Department of Corrections informed her that JPay Inc., a private company in Florida, would begin handling all deposits into inma …"

Debit cards slam released prisoners with sky-high fees, few protections

By Amirah Al Idrus

Former prisoners say funds earned in prison eaten away by exorbitant debit card fees.

Excerpts from this story referencing "American Express":

"… inmate release cards. Prepaid cards issued by companies like Green Dot and American Express also charge users for a range of services. The difference is choice: Many …"

Lawmakers issue dueling Dodd-Frank reports

By Jared Bennett

Republicans say the financial reform law creates a bailout fund. Democrats says the 4-year-old law makes banks safer.

Excerpts from this story referencing "Barney Frank":

"… ial industry. The "banking caucus" includes Democrats. Former Congressman Barney Frank, D-Mass., who was co-author of the reform law, will defend the law at a co …"

Four years after passage, House keeps trying to kill Dodd-Frank

By Jared Bennett

On the fourth anniversary of the passage of landmark financial reform law, opponents still trying to kill it.

Excerpts from this story referencing "Obama":

"… 2010 to “halftime.” Even now, on the fourth anniversary of President Obama’s signing of Dodd-Frank into law, bank lobbyists and a core group of law …"

Congressman defends payday lending industry

By Daniel Wagner

Rep. Gregory Meeks, D-N.Y., featured in Center investigation on the 'banking caucus.'

Credit union overseer cozies up to industry execs

By Daniel Wagner

Credit union regulator Rick Metsger cozies up to industry execs at D.C. conference.

Do senators fear the Internet?

By Rachel Baye

Nearly one-fifth of upper chamber members say they support e-filing campaign finance reports — but won't be this week.

Excerpts from this story referencing "Jon Tester":

"… . The disappearance disappointed advocates for the practice, such as Sen. Jon Tester, D-Mont., who has championed e-filing legislation. His stand-alone bill re …"

New credit union cop tight with industry

By Daniel Wagner

Newest credit union overseer owes political career to industry he regulates.

Days after investigation, coal miners' safety net scrutinized

By Bill Buzenberg

Center's 'Breathless and Burdened' series leads U.S. senators to call for changes, major hospital to halt program and review practices.

Excerpts from this story referencing "energy":

"… The coal industry, along with many other sectors of our economy, such as energy, telecommunications, pharmaceuticals, financial services, health insurance …"

Obama bundlers nominated for diplomatic posts in New Zealand, Iceland

By Michael Beckel

President Obama has named two more of his top campaign fundraisers for plum, overseas diplomatic posts.

Donor profile: Joe Ricketts

By Reity O'Brien

Quick stats on the biggest financial backers of Election 2012.

Visa, MasterCard in $6B settlement over card fees

By The Associated Press

Visa, MasterCard and banks reach $6B settlement over card fees
Aung San Suu Kyi

US eases sanctions, allowing investment in Myanmar

By The Associated Press

US allows investment in Myanmar, including oil and gas, in biggest rollback yet of sanctions

Wisconsin Gov. Walker’s conservative media appearances pay off as he raises millions from out-of-state donors

By Kate Golden and Amy Karon

Wisconsin Gov. Scott Walker's national conservative media appearances have helped him to raise millions from out-of-state donors

Super PAC cash plays big role in Nebraska Senate race

By Michael Beckel

Super PAC spending again plays major role in Senate contest, this time in Nebraska.

Excerpts from this story referencing "Senate races":

"… force in the general election, especially in states with competitive U.S. Senate races. Republicans hope to win control of the Senate this November.“This is th …"

Finance industry makes up nearly half of pro-Romney super PAC’s donations

By Alexandra Duszak and Rachael Marcus

America's wealthiest investors fill coffers of pro-Romney super PAC.

Excerpts from this story referencing "Hedge fund":

"… her campaign expenses, as long as they do not coordinate with candidates. Hedge funds are private, largely unregulated investment pools that are typically over …"

"… wallets of Romney’s former colleagues is undoubtedly carried interest. Hedge fund and private equity managers don’t make money like most working people. T …"

Embattled finance committee chairman gets help from credit unions

By Michael Beckel

Credit union industry is sticking with embattled incumbent Rep. Spencer Bachus in Alabama primary

Excerpts from this story referencing "finance":

"… law signed by President Barack Obama in 2010.Bachus, who has relied on the finance, insurance and real estate sectors for nearly $1 out of every $2 he’s ra …"

Chamber spends early, often on GOP congressional candidates

By Peter H. Stone

The nation's largest business lobby taps corporate giants in an attempt to recapture Senate

Excerpts from this story referencing "Dow Chemical":

"… care interests, the Pharmaceutical Research and Manufacturers of America, Dow Chemical, Exxon Mobil and private equity firm the Blackstone Group.In 2008, the Cha …"

"… like Aegon, Allstate and State Farm and a handful of corporate giants like Dow Chemical, according to fundraisers and lobbyists familiar with the institute.Lisa R …"

K Street, Wall Street line up behind Sen. Scott Brown in his race against Elizabeth Warren

By Peter H. Stone

Senate race fundraising stoked by dislike of big bank nemesis Elizabeth Warren

Excerpts from this story referencing "Senate races":

"… breakfast fundraiser for Brown at New York’s tony Lever House.In his two Senate races, Brown’s top five contributors included four financial giants: Fidelity …"

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 "Tennessee":

"… at Citi, digging through trash bins outside CitiFinancial branches around Tennessee and rescuing internal memos and other documents that, in Lee’s view, pro …"

Koch-related group is reviewing financial transactions with Cain aide's charity

By Peter H. Stone

Americans for Prosperity ties to Cain aide under review

In India, bidi industry's clout trumps health initiatives

By Murali Krishnan and Shantanu Guha Ray

Bidi makers in India adopt Big Tobacco tactics to avoid reforms on smoking and excise taxes

Excerpts from this story referencing "Madhya Pradesh":

"… Congress Party. He owns the Tiger Brand bidi company in India’s central Madhya Pradesh state, with annual revenues of about $90 million. This one state contribut …"

Only 15 of top 100 health information technology firms are lobbying on health IT

By Josh Israel

Many of the top health information technnology firms don't lobby on health IT

One year after reform law passed, Wall Street still spending big on lobbying

By Shirley Gao

Wall Street has spent $100 million so far this year on lobbying, just slightly less than last year

More oversight needed for Myanmar cyclone relief funds, GAO says

By Maya Rhodan

Recent audit shows USAID lacks proper management of relief funding in Myanmar

Financial stability council warns Congress U.S. markets still fragile

By Shirley Gao

Financial Stability Oversight Council tells Congress markets are still vulnerable

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