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.

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 "JPay Inc.":

"… ve deals with prisons. The first part of the series detailed how JPay Inc., a Miami-based technology company, has gained access to 70 percent of U.S. …"

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.

Treasury extends controversial bank-card deal with Comerica

By Daniel Wagner

Treasury extends Comerica program that exposed the elderly and poor to fraud.

Excerpts from this story referencing "Elizabeth Warren":

"… r bank partner after senators pummeled him during a hearing. Sen Elizabeth Warren asked incredulously if “we agreed to give Comerica — we, the U.S. gove …"

Treasury to Comerica: Take our money, please!

By Daniel Wagner

Officials handed bank tens of millions, asked few question, in troubled card program.

Banks seek to sway critical GAO report

By Alison Fitzgerald

Big banks say new regulation is unnecessary thanks to Dodd Frank reforms.

Excerpts from this story referencing "Goldman Sachs Group Inc.":

"… from the current 6 percent. In the past year, JPMorgan Chase & Co. and Goldman Sachs Group Inc. have released reports that argue that any cost advantage they had during t …"

Wall Street favorite Rep. Garrett flirts with default

By Alison Fitzgerald

Will investment firms that deal in U.S. Treasury securities regret their support of GOP congressmen who are flirting with default?

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 "Congress":

"… reaction that killed dozens more banks and mortgage lenders. Weeks later, Congress approved a $700 billion bailout of the financial system and soon nearly ev …"

"… eapot.” The company was sued by the SEC, and Dimon had to testify before Congress. Last spring he barely survived a shareholder vote that would have separat …"

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 "Finance":

"… closures to federal regulators in a lawsuit brought by the Federal Housing Finance Agency, which oversees government-owned mortgage giants Fannie Mae and Fre …"

IMPACT: Treasury to open Comerica deal to new bids after CPI report

By Daniel Wagner

Multimillion-dollar government deal with Comerica will be re-bid in 2015 after reports of lack of transparency and competition.

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 …"

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 "Coca-Cola":

"… trade associations as “our sponsors.”This year, companies ranging from Coca-Cola and Wells Fargo to Xerox and UPS are working to ensure that they have a pr …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

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 "Obama":

"… ve 501(c)(4) exaggerates the number of “Wall Street executives” in the Obama White House. In a major TV ad buy, the American Future Fund lists 27 peopl …"

"… ad buy, the American Future Fund lists 27 people it claims are part of “Obama’s Wall Street Inner Circle.” But the ad is either flat wrong or greatl …"

"… ng the most laughable examples we found of “Wall Street executives” in Obama’s “inner circle”:A “White House fellow,” class of 2009-2010, who …"

"… ho were appointed by President George W. Bush, and who left not long after Obama took office.Two men who never worked in the administration — including t …"

Corzine gave $5 million to help candidates win office; now he's being grilled by Congress

By Aaron Mehta and Sandy Johnson

Once a member of Congress, Corzine now grilled by lawmakers on MF Global

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 "Merrill Lynch":

"… approved a $150 million agency settlement with Bank of America over its Merrill Lynch acquisition, after having rejected an earlier, smaller deal. But make no m …"

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

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Bailed-out banks paid no income tax in some years, according to study

By John Dunbar and John Dunbar

New study shows bailed-out banks among those companies that paid no income tax at least one year

Excerpts from this story referencing "Troubled Asset Relief Program":

"… ived funds in the form of stock purchases from the Treasury Department’s Troubled Asset Relief Program. Wells Fargo received the greatest benefit among all 280 companies studie …"

Obama bundler Jon Corzine's financial firm hits the skids in bankruptcy

By Aaron Mehta

Jon Corzine, Obama's conduit to Wall Street, loses midas touch with new firm

The weekly watchdog: Oct. 24 - Oct. 28

By Bill Buzenberg

In case you missed them, catch up on this week's top investigations from iWatch News

Excerpts from this story referencing "Credit":

"… the measure is one reason that its prospects for passage are mixed.IMPACT: Credit union drops payday loansA Utah-based lender featured prominently in an iWa …"

"… and is instead offering a more consumer-friendly product. Mountain America Credit Union had offered its 320,000 member-owners a “MyInstaCash” loan that …"

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 …"

Mortgage industry whistleblower wins case against Bank of America

By Michael Hudson

Government awards mortgage whistleblower $930,000, job reinstatement

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

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

Dodd-Frank author is proudest of "skin in the game" requirement for mortgage securitizers

By Shirley Gao

Rep. Barney Frank defends Dodd-Frank law as first anniversary nears

Excerpts from this story referencing "Bank of America Corp.":

"… d increased regulation, the New York Times reports. Analysts  predict Bank of America Corp., Goldman Sachs Group, Inc., JP Morgan Chase & Co., Morgan Stanley, and …"

SEC aims to shed more light on murky world of derivatives

By Shirley Gao and Julie Vorman

SEC aims to shed more light on murky world of derivatives

Bank of America, which spent $4 billion to buy Countrywide, now must pay $8.5 billion settlement to Countrywide investors

By Julie Vorman

BofA settles big investors' complaints about Countrywide mortgage-backed loans

Excerpts from this story referencing "Federal Trade Commission":

"… es may get attention from the Consumer Financial Protection Bureau and the Federal Trade Commission in coming months, an industry lawyer writes at AutoDealerMonthly.com. &nbs …"

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 "Financial Stability Oversight Council":

"… ill depart next month after playing a key role in setting up the  new Financial Stability Oversight Council to monitor systemic risk, as required by the Dodd-Frank financial reform l …"

Reform reading: CFTC chief says "my thinking has evolved" on derivatives regulation

By Shirley Gao

Ex-Goldman exec at the forefront of regulating derivatives

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":

"… B nominee? – President Barack Obama may nominate Raj Date, a former banker with Capital One Financial Corp. and Deutsche bank AG, to head the Consu …"

"… rong" in believing that tougher capital requirements aren't needed for megabanks because of the Dodd-Frank law's new bank resolution mechanism, writes eco …"

"… quirements aren't needed for megabanks because of the Dodd-Frank law's new bank resolution mechanism, writes economist Simon Johnson in the Baseline Scena …"

"… e Corp's new resolution powers can adequately handle the collapse of a megabank by imposing losses on creditors. But there is no cross-border resolution m …"

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