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 "cent":

"… ” of the contracts with Bank of America and JPMorgan “in response to recent media reports concerning the selection of and high fees charged by these t …"

"… counts hold the money inmates earn from prison jobs paying as little as 12 cents an hour and supplemental funds sent by family and friends. Inmates u …"

"… ow JPay Inc., a Miami-based technology company, has gained access to 70 percent of U.S. offenders and holds a monopoly on transferring money into prisons …"

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 "Center for Public Integrity":

"… xpayers the most bang for the buck,” Grassley said in a statement to the Center for Public Integrity. “Any time the government avoids competitive bidding, the practice needs …"

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 "Dallas":

"… versight of a program to deliver federal benefits on debit cards issued by Dallas-based Comerica Bank. The inspector general found that officials had failed …"

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 "Miami":

"… easury in 2009. He lives on a tiny harbor island near the northern tip of Miami Beach in a home he bought for about a million dollars. Last year, through …"

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.

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.

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 "Congress":

"… man of the House Financial Services Committee, and the 10 other members of Congress featured in the Center’s investigation, have done their best to derail D …"

"… Frank. At least 30 bills have been proposed to the House during the 113th Congress, aimed at chipping away at aspects of Dodd-Frank. Members of the banking c …"

"… B have been steady almost since its inception. A proposal before the 112th Congress to change the CFPB leadership structure from a single director to a commis …"

"… vision to change the bureau’s funding source from the Federal Reserve to Congress beginning in 2016. The bill passed the house on July 16. Finance-related …"

Congressman defends payday lending industry

By Daniel Wagner

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

Excerpts from this story referencing "MIT":

"… .” The event marked the rollout of a paper written for MasterCard by an MIT professor and subtitled “How emerging electronic payment technology can …"

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 "Dianne Feinstein":

"… Calif.; Thad Cochran, R-Miss.; John Cornyn, R-Texas; Joe Donnelly, D-Ind.; Dianne Feinstein, D-Calif.; Al Franken, D-Minn.; Kirsten Gillibrand, D-N.Y.; Angus King, I- …"

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.

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.

Excerpts from this story referencing "Democratic National Committee":

"… ll as his 2009 inauguration. Since 2009, he has additionally served as the Democratic National Committee's deputy national finance chair since 2009. Barber was also a member of t …"

Donor profile: Joe Ricketts

By Reity O'Brien

Quick stats on the biggest financial backers of Election 2012.

Excerpts from this story referencing "financial services":

"… ren — Laura, Peter and Todd — also sit on its board. In addition to a financial services giant and a Major League Baseball team, Ricketts’ ventures include a bis …"

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

Excerpts from this story referencing "Burma":

"… inancial services was eased, underscored how far the country also known as Burma has to go before it truly cleans shop after five decades of military rule. …"

"… easing restrictions to allow U.S. companies to responsibly do business in Burma," President Barack Obama said in a statement that credited reformist Presi …"

"… Rights activists were unconvinced. "By allowing deals with Burma's state-owned oil company, the U.S. looks like it caved to industry pressu …"

"… it caved to industry pressure and undercut Aung San Suu Kyi and others in Burma who are promoting government accountability," said Arvind Ganesan of Human …"

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

Excerpts from this story referencing "spokesman":

"… ning Milwaukee Journal Sentinel, which had endorsed him in 2010.Walker’s spokesman, Cullen Werwie, said the governor “has multiple media availabilities eve …"

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 "Federal Election Commission":

"… utside groups have spent more than $2 million on advertising, according to Federal Election Commission records, with nearly $1 million going toward ads attacking Bruning. The ad …"

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 "Chris Dodd":

"… y, R-Pa., he has also given to Sen. Chuck Schumer, D-N.Y., and former Sen. Chris Dodd, D-Conn., among others. Mercer could not be reached for comment. Legislat …"

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 "Politics":

"… s contributing $76,500, according to the nonpartisan Center for Responsive Politics. That includes the legal maximum of $10,000 from the PAC so far this elect …"

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 "Koch Industries":

"… by America’s largest oil company Exxon Mobil and included the likes of, Koch Industries, Peabody Energy and Southern Co. Energy lobbyists say that the Chambe …"

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

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 "District of Columbia":

"… llion to settle loan-fraud allegations by authorities in 49 states and the District of Columbia. It stopped making loans in 2007.The company said previously in a written …"

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 "retail price":

"… f India. Cigarette taxes currently account for less than 40 percent of the retail price of a package, among the lowest in the entire Asia Pacific region and far b …"

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

Borrower Nightmares: $700 dormitory fee costs family its car

By Amy Biegelsen

Car-title loans are a quick way to get money but woe to those who fall behind in payments

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