Consumer accuses Bank of America of unfair debt practices

Consumer accuses Bank of America of unfair debt practices

TAMPA – A Hillsborough County woman is suing Bank of America, alleging abusive, deceptive and unfair debt collection practices. Jennifer McCambridge filed a lawsuit Dec. 8 in the U.S. District Court for the Middle District of Florida against Bank of America NA, alleging violation of the Florida Consumer Collection Practices Act, or FCCPA, and the Telephone Consumer Protection Act, or TCPA.

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U.S. Justice Dept. orders whistleblower to testify in Wells Fargo probe

U.S. Justice Dept. orders whistleblower to testify in Wells Fargo probe

The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Fargo & Co’s (WFC.N) opening of accounts without customer permission. U.S. prosecutors in San Francisco have asked Wells Fargo banker Yesenia Guitron, who lost a private lawsuit against the fourth-largest lender, to testify before a grand jury in San Francisco on Tuesday, according to a subpoena dated Dec.

 

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U.S. proposed $5 billion – 7 billion penalty on Credit Suisse on toxic debt

Exclusive: U.S. proposed $5 billion – 7 billion penalty on Credit Suisse on toxic debt – source

The U.S. Department of Justice has asked Credit Suisse to pay between $5 billion and $7 billion to settle a probe over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, a source with knowledge of the matter said, but the bank has resisted settling for that amount.

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Big banks fight to block crisis-era lawsuits from continuing

Big banks fight to block crisis-era lawsuits from continuing

Big banks are fighting tens of billions of dollars of potential legal costs linked to at least a dozen pending lawsuits arising from the financial crisis. A handful of banks, including Wells Fargo, Credit Suisse and Deutsche Bank, have asked the Supreme Court to review a lower court decision that said the regulators filed their claims on time despite a Depression-era securities law that gave them only a three-year window.

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Wells Fargo fails ‘living will’ test, faces restrictions

Wells Fargo fails ‘living will’ test, faces restrictions: U.S. regulators

NEW YORK/WASHINGTON U.S. officials on Tuesday limited Wells Fargo & Co’s (WFC.N) ability to grow its business, punishing the bank for not having a sufficient plan to protect markets in the case of bankruptcy. The ruling crowns a dismal year for the San Francisco lender roiling from a scandal in which bank employees created as many as 2 million accounts without customer authorization.

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