'Banking Caucus' member aims for Senate

By Alison Fitzgerald

Republican candidate for Senate U.S. Rep. Shelley Moore Capito defends little banks but big banks benefit too.

Excerpts from this story referencing "Center for Responsive Politics":

"… top 20 donors to Capito’s Senate run, according to data compiled by the Center for Responsive Politics. She also has the support of many energy companies. Capito is not among th …"

'Zombie' homes haunt Florida neighborhoods

By Alison Fitzgerald and Jared Bennett

Neighborhoods devastated by thousands of abandoned homes as banks fail to follow through on foreclosures.

Excerpts from this story referencing "Memphis":

"… le for abandoned properties for which they hold a mortgage. Baltimore and Memphis, Tennessee, succeeded in obtaining settlements from Wells Fargo for a …"

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 "Mortgage":

"… of creative investors’ turning Mortgage debt into a tradable commodity. Mortgages were placed in pools and securitized. Very often the deeds to the homes, …"

Lobbying activity declines among top special interests

By Dave Levinthal

Three-fifths of nation's top 100 lobbying entities spent less on influence in the second quarter compared to a year ago.

Excerpts from this story referencing "General Dynamics":

"… ctors United Technologies, Northrop Grumman, Lockheed Martin, Raytheon and General Dynamics cutting lobbying spending. Many large oil and energy production interests …"

Fourth case reopened after Center uncovers judicial conflict of interest

By Chris Young

U.S. appeals court reopened foreclosure case after Center uncovered that a judge owned stock in Wells Fargo, court reaches same decision.

Excerpts from this story referencing "Wells Fargo":

"… A federal appeals court has scrapped a 2010 foreclosure ruling in favor of Wells Fargo Bank after a Center for Public Integrity investigation revealed that one o …"

"… rcuit Court of Appeals once again dismissed the couple’s claims accusing Wells Fargo of predatory lending. “I do not agree with it,” Mountaga Bah said of …"

"… owledged in March that Judge Barbara Keenan owned $1,900 worth of stock in Wells Fargo at the time she participated in the 2010 ruling favoring the bank. In a M …"

"… l pending. Many of the others remain in limbo. Jim Hines, a spokesman for Wells Fargo Home Mortgage, declined to discuss the Bah foreclosure case in detail. “ …"

Lobbyists boost Senate Democrats

By Michael Beckel

Democrats have outraised their GOP counterparts in terms of money coming from lobbyists doubling as fundraisers.

Excerpts from this story referencing "Hawaii":

"… cal action committees affiliated with ideological groups that also lobby. Hawaii’s Brian Schatz and Oregon’s Jeff Merkley both disclosed bundling activ …"

Federal judges plead guilty

By Reity O'Brien, Kytja Weir and Chris Young

Judges acknowledge conflicts of interest Center found in 26 cases.

Excerpts from this story referencing "Guinea":

"… ed, “took advantage” of Bah — a native of the West African nation of Guinea, who was not fluent in English — by failing to ensure that he would be a …"

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 "Bank":

"… y, the 56-year-old from Dallas is well on his way to achieving that goal. Bankers’ best friends Every business sector has its friends in Washington. F …"

"… ensarling’s committee can’t move legislation on its own — the Senate Banking Committee supports Dodd-Frank — the House panel can work its will in …"

"… t for the phone to ring — and you don’t have to wait very long.” The Banking Caucus The Center for Public Integrity reviewed political finance reco …"

"… nother drafted a letter to regulators and sent it directly to the American Bankers Association so the industry group could pressure other lawmakers to sig …"

N.M. bill aims to put judge disclosures back online

By Kytja Weir

Bill calls for posting judge's financial disclosures online in wake of Center for Public Integrity investigation on transparency.

Excerpts from this story referencing "Wells Fargo":

"… interest after the Center found a judge who owned as much as $1 million of Wells Fargo stock when she participated in a case favoring the financial giant. Wyomin …"

Shining a light on ALEC's power to shape policy

By Wendell Potter

Conservative group's power has been under-covered.

Excerpts from this story referencing "Wells Fargo":

"… s corporate membership has included big names ranging from ExxonMobil and Wells Fargo to Johnson & Johnson and Kraft. And it has worked closely with groups …"

State supreme court judges reveal scant financial information

By Reity O'Brien, Kytja Weir and Chris Young

Despite universally poor disclosure rules, Center finds numerous conflicts among state high court judges.

Excerpts from this story referencing "U.S. Court of Appeals":

"… benefit, Parraguirre’s court received a still-pending case referred by a U.S. Court of Appeals, involving one of the company's mines. His assistant, Roxanne Doyle, told …"

Lobbying dips overall, but the beat goes on for guns, drugs and agriculture

By Dave Levinthal

But third-quarter expenditures are down for many special interests.

Excerpts from this story referencing "Wells Fargo":

"… or Raytheon Co., United Parcel Service, tech firm Hewlett-Packard and bank Wells Fargo also recorded spending increases compared to their performances during las …"

Subprime lending execs back in business five years after crash

By Daniel Wagner

Executives from all of the top 25 subprime lending firms are working in the mortgage business five years later.

Excerpts from this story referencing "Rachel Steinmetz":

"… , especially when there’s no incentive to do things differently,” says Rachel Steinmetz, a senior underwriter-turned-whistleblower who worked at subprim …"

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 "Wells Fargo":

"… O of Wachovia, which nearly collapsed 11 days after Lehman and was sold to Wells Fargo at the direction of federal regulators. When he’s looking to get out of …"

"… ica’s assets have ballooned to $2.13 trillion from $1.72 trillion, while Wells Fargo more than doubled to $1.44 trillion from $609 billion five years ago. Gold …"

"… ional Group and the sales of Merrill Lynch to Bank of America, Wachovia to Wells Fargo and Washington Mutual to JPMorgan, thousands of hours and millions of page …"

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 "DOJ":

"… t the health of the funds. Both were acquitted in 2009, and since then the DOJ has declined to criminally charge any top-level Wall Street executives. Th …"

Yellen as Fed chair would be tougher on banks

By Alison Fitzgerald

Janet Yellen, President Obama’s intended nominee for Federal reserve chief, may prove to be tougher on banks.

Excerpts from this story referencing "Yellen":

"… of uncertainty and deliberation, President Obama has indicated that Janet Yellen is indeed his nominee to lead the Federal Reserve. The Center’s recent p …"

"… his nominee to lead the Federal Reserve. The Center’s recent profile of Yellen provides an illuminating road map of what bankers, investors and markets c …"

"… nding to one of Washington’s most influential posts.    Janet Yellen is in the running to become chairwoman of the Federal Reserve and tha …"

"… n that’s where the bulk of her experience is.” The Center interviewed Yellen and reviewed her career through two stints on the Federal Reserve Board an …"

Super PAC leader undeterred by criminal conviction

By Adam Wollner

Pennsylvanian convicted of crime, banned from Virginia Tech campus wants to make political waves.

Excerpts from this story referencing "Wells Fargo":

"… the Keystone State. But Fauber, who currently works as a bank teller at a Wells Fargo branch in Mechanicsburg, was banned from the Virginia Tech campus last yea …"

Mel Watt enjoys close ties to financial industries

By Alison Fitzgerald

Bank leaders, PACs made prospective housing agency leader a top recipient of campaign cash.

Excerpts from this story referencing "CEO":

"… least $4,250 from 1998 through 2004, with Fannie’s controversial former CEO Franklin Raines chipping in $1,500 to help Watt keep his seat. Bank of Am …"

"… ontributed $66,500 to Watt through its PAC from 1998 to last year. Former CEO Kenneth Lewis, who spearheaded the money-losing acquisitions, contributed …"

After big U.S. Supreme Court win, Montana nonprofit suffers string of losses

By Paul Abowd

Democrat Steve Bullock's gubernatorial win a low point for litigious conservative group.

Excerpts from this story referencing "operative":

"… nors who wish to impact elections but would prefer to remain anonymous.ATP operative Christian LeFer defended the use of (c)(4)s to conceal the identities of i …"

Corporate cash helps fuel Democratic convention despite pledges

By Michael Beckel

Democrats kick off their convention in Charlotte Tuesday with plenty of corporate support despite grass roots pledge.

Excerpts from this story referencing "Wells Fargo":

"… AT&T Inc., Bank of America, Duke Energy, Time Warner Cable, Coca-Cola, Wells Fargo, UnitedHealth Group, Piedmont Natural Gas, US Airways and law and lobbying …"

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 "Bank of America":

"… oldman Sachs and Citigroup; $150,000 from Morgan Stanley and $100,000 from Bank of America.Most of the banks and other institutions that made contributions to the co …"

Wells Fargo to pay $175M in lending settlement

By The Associated Press

Justice Dept: Wells Fargo to pay $175M to settle allegations of bias against blacks, Hispanics

Excerpts from this story referencing "attorney general":

"… prime loans or who paid more for their loans, said Thomas Perez, assistant attorney general for the Justice Department's civil rights division. Perez sa …"

Wells Fargo hit with $3.1 million fine in mortgage servicing mess

By John Dunbar

A federal judge has ordered Wells Fargo to pay a homeowner $3.1 million for mishandling a loan.

Excerpts from this story referencing "Wells Fargo":

"… information about the status of their loans.  …"

"… al bankruptcy judge in the Eastern District of Louisiana. Manger described Wells Fargo's behavior as "highly reprehensible" in its five-year fight with the homeo …"

"… atch News. In an emailed statement published in the Huffiington Post, Wells Fargo spokesman Tom Goyda said "we believe that there are numerous factual and l …"

New whistleblower cases allege continued bank fraud

By Amy Biegelsen and Emma Schwartz

Mortgage modifications and appraisal processes in question

Excerpts from this story referencing "Bank of America":

"… t with five major lenders.  A suit unsealed March 7 alleges that Bank of America fraudulently misled borrowers and regulators in order to keep customers ou …"

"… ted.As a condition of accepting $45 billion from the federal bank bailout, Bank of America promised to help move troubled borrowers into the taxpayer subsidized Home …"

"… gory Mackler, formerly an employee of Urban Lending Solutions, the company Bank of America contracted to manage HAMP complaints.Mackler claims the company developed …"

"… were eligible for federally subsidized loan modifications.The suit claims Bank of America:Told borrowers and regulators that a complaint was “under review” whil …"

Raging against the foreclosure machine

By Ben Hallman

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

Excerpts from this story referencing "Fannie Mae":

"… he largest lenders. Most home loans are bought by Wall Street banks or by Fannie Mae and Freddie Mac, bundled together and placed into pools of 5,000 or more. …"

"… rongful foreclosure, violating federal law and servicing guidelines set by Fannie Mae, which owns their loan. Bank of America did not respond to requests for c …"

"… 601 for fees it had assessed on one occasion and $45 on three other dates. Fannie Mae and Freddie Mac servicing guidelines (page 301-2) say that payments on loa …"

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 "Mortgage":

"… d Ed Parker, former fraud investigations manager at now-defunct Ameriquest Mortgage Co., a leading subprime lender. “But we were not welcome because we affe …"

"… “boiler room” operation and a frat-house blowout.At Citizens Financial Mortgage Inc., a small Pennsylvania-headquartered lender, the out-of-control behavi …"

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 "Wells Fargo":

"… according to an iWatch News analysis of a new study of tax dodgers. Wells Fargo & Co., Goldman Sachs Group, PNC Financial Services Group, Capital One …"

"… purchases from the Treasury Department’s Troubled Asset Relief Program. Wells Fargo received the greatest benefit among all 280 companies studied. If the bank …"

"… rly $18 billion, the study said. The banking giant paid no taxes in 2009. Wells Fargo was also among the most profitable corporations on the list, having collec …"

"… list, having collected $21.8 billion in profits over the three-year span. Wells Fargo received a $25 billion government investment in October, 2008 from the TAR …"

Investor protections imperiled by Wall Street, GOP assault on financial reform

By John F. Wasik

Wall Street and GOP assault consumer protections in Dodd-Frank reforms

Excerpts from this story referencing "Washington Mutual":

"… nded investor shields when she was approached by a broker working inside a Washington Mutual Bank. After inheriting some money from her brother in 2007, the retired Sa …"

"… rbitration award against the bank, JP Morgan Chase & Co., which bought Washington Mutual in 2008 after it failed. "Something about being in a bank made me trust h …"

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 "Wells Fargo":

"… with the firms — Bank of America, JP Morgan Chase & Co., Citigroup, Wells Fargo & Co. and Ally Financial Inc. — over allegations of widespread abuse …"

"… es.Four of the five companies under scrutiny—Bank of America, JP Morgan, Wells Fargo and Citigroup — are major donors for state and federal political campaig …"

"… re vital to financial corporations when the Democrats controlled the House.Wells Fargo gave over $1 million to candidates, party committees and other PACs since …"

"… on to candidates, party committees and other PACs since the start of 2009. Wells Fargo has given at least $45,000 each to the NRCC and NRSC and at least $30,000 …"

“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 "Iraq":

"… got to cut the deficit, you got to stay in Afghanistan, we got to stay in Iraq, you can’t raise the taxes on Warren Buffet and you have to cut the crap …"

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