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 "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. …"

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.

Excerpts from this story referencing "JPay Inc.":

"… nmates. Part One, which ran on Tuesday, focused on the explosive growth of JPay Inc., a private company that performs money transfers for 70 percent of U.S. of …"

"… s rankled potential competitors including Ryan Shapiro, founder and CEO of JPay Inc., which provides prison banking services to most state inmates. He has call …"

Treasury extends controversial bank-card deal with Comerica

By Daniel Wagner

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

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 "Ohio":

"… ystemically important. The report was requested by Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., who have been pushing legislation that would rai …"

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.

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 "Permanent Subcommittee on Investigations":

"… over the place.” Sen. Carl Levin, D-Mich., who as chairman of the Permanent Subcommittee on Investigations led some of the most thorough inquiries into the causes of the financial c …"

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 "treasurer":

"… , he told them he was acting as a front for his brother-in-law, the former treasurer of the Mexican border state of Coahuila. The bank alerted the U.S. Drug E …"

"… nforcement Administration, helping spark official investigations of the ex-treasurer, who now stands accused in Mexico of embezzling millions of doll …"

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.

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 "Eugene Kiely":

"… ll Street Inner Circle” with a majority of people who don’t belong.– Eugene Kiely, with Scott Blackburn, Lalita Clozel and Dave Bloom …"

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

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

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

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 "Los Angeles":

"… itness statement in a Countrywide shareholders lawsuit in federal court in Los Angeles. After the company had closed one branch and was preparing to shut fi …"

"… ny’s fraud hotline. The company responded, her lawsuit in state court in Los Angeles said, by firing her.The case was settled last year before Countrywide had …"

"… a colleague and boss. Among them is Larry Goebel, a former captain in the Los Angeles Police Department’s internal affairs unit who worked with Foster at Coun …"

"… y. He now works as head of security for the Performing Arts Center of Los Angeles County.Bank of America declined to answer questions about Goebel’s accou …"

Mortgage industry whistleblower wins case against Bank of America

By Michael Hudson

Government awards mortgage whistleblower $930,000, job reinstatement

Excerpts from this story referencing "Bank of America":

"… the lender, a federal agency ruled Wednesday.The Labor Department ordered Bank of America Corp., which bought Countrywide, to pay the former executive roughly $930, …"

"… r.Eileen Foster, who worked as a vice president at Countrywide and then at Bank of America after it acquired Countrywide in 2008, claimed that high-level executives …"

"… n’t want to comment at this time, considering that I may be returning to Bank of America as an employee.”Bank of America said it plans to appeal the ruling.“Th …"

"… , considering that I may be returning to Bank of America as an employee.”Bank of America said it plans to appeal the ruling.“This is an old matter dating from 20 …"

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

Excerpts from this story referencing "Ohio":

"… the bureau’s director, President Barack Obama last week nominated former Ohio Attorney General Richard Cordray for the job. Warren is also said to be co …"

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

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

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

Excerpts from this story referencing "Gary Gensler":

"… nd news about the Dodd-Frank financial reform law.From Goldman to CFTC – Gary Gensler spent 18 years working for Goldman Sachs Group Inc. and was among the Clin …"

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 "Simon Johnson":

"… se of the Dodd-Frank law's new bank resolution mechanism, writes economist Simon Johnson in the Baseline Scenario blog.In a speech earlier this week, Geithner …"

Pages