Lawsuit accuses 22 banks of manipulating U.S. Treasury auctions

Lawsuit accuses 22 banks of manipulating U.S. Treasury auctionsThe State-Boston Retirement System, the pension fund for Boston public employees, accused Bank of America Corp’s (BAC.N) Merrill Lynch unit, Citigroup Inc (C.N), Credit Suisse Group AG CGSN.VX, Deutsche Bank (DBKGn.DE), Goldman Sachs Group Inc (GS.N), HSBC Holdings Plc (HSBA.L), JPMorgan Chase & Co (JPM.N), UBS Group AG UBSN.S and 14 other defendants of illegally trying to profit on the sale of Treasury bills, notes and bonds at investors’ expense.

Embedly Powered

Bank Of America Made $204 Million Because It Sold Bad Mortgages More Than 6 Years Ago

Bank Of America Made $204 Million Because It Sold Bad Mortgages More Than 6 Years AgoBank of America brought in $22.3 billion in revenue in the second quarter. Its profit — $5.3 billion — was almost double compared to this time last year, CEO Brian Moynihan said, because expenses were lower and the bank made more loans and originated more mortgages amid an improving U.S.

Embedly Powered

Bank of America sued for allegedly manipulating foreign exchange market

Bank of America sued for allegedly manipulating foreign exchange marketBank of America is being sued over allegations that the bank manipulated foreign exchange markets. Robert Charles filed the lawsuit on June 24 in United States District Court in New York against Bank of America, claiming the bank manipulated the foreign exchange spot market, which caused prices to fluctuate.

Embedly Powered

HSBC must face lawsuit over failed credit unions

HSBC must face lawsuit over failed credit unions – Business Insurance(Reuters) – A federal judge rejected HSBC Holdings P.L.C.’s bid to dismiss a U.S. lawsuit claiming that its failure to perform its duties as trustee for $2.37 billion of residential mortgage-backed securities contributed to the downfall of five federal credit unions.U.S. District Judge…

Embedly Powered

Citizenfour director Laura Poitras sues US over ‘Kafkaesque harassment’

Citizenfour’s Laura Poitras suing US government over ‘harassment’The Oscar-winning documentary film-maker Laura Poitras is suing the US government demanding to know why she has repeatedly been subjected to “Kafkaesque harassment” at airports across the world. Poitras, 51, said she had been held at borders more than 50 times between 2006 and 2012, often for hours at a time.

Embedly Powered

Rare Coalition Urges Limits on Mortgage-Related Bank Lawsuits

Rare Coalition Urges Limits on Mortgage-Related Bank LawsuitsBankers, housing advocates team up in effort to ease mortgage access for borrowers with weaker credit A rare coalition of mortgage lenders and left-leaning consumer advocates are calling on the Obama administration to ease up on lawsuits they say are driving banks away from making loans to borrowers with weak credit histories.

Embedly Powered

via WSJ

JPMorgan to pay over $125 million to settle US credit card debt probes

JPMorgan to pay over $125M to settle debt probesThe states will split some $95 million, while the CFPB will get $30 million, the people said. JPMorgan Chase and the CFPB did not return calls for comment. A spokesman for Iowa Attorney General Tom Miller, who has been leading a group of states in probing JPMorgan’s debt sales and collection actions, declined to comment.

Embedly Powered

via CNBC

Eric Holder, Wall Street Double Agent, Comes in From the Cold

Eric Holder, Wall Street Double Agent, Comes in From the ColdEric Holder has gone back to work for his old firm, the white-collar defense heavyweight Covington & Burling. The former attorney general decided against going for a judgeship, saying he’s not ready for the ivory tower yet. “I want to be a player,” he told the National Law Journal , one would have to say ominously.

Embedly Powered

Bank of America to pay Vermont $1.25 million foreclosure settlement

Bank of America to pay Vermont $1.25 million foreclosure settlement – VTDiggerBank of America will pay the state of Vermont $1.25 million to settle a lawsuit that alleged that the company violated the state’s foreclosure laws even after it settled a high profile case with the federal government. Vermont will receive $1 million for dropping the legal claim, paying legal expenses and other fees.

Embedly Powered

Brain Scans Reveal The World Happiest Man: His Secrets Is Simple

Brain Scans Reveal The World Happiest Man: His Secrets Is Simple“Ricard sees living a good life, and showing compassion, not as a religious edict revealed from on high, but as a practical route to happiness.” A French genetic scientist may seem like an unusual person to hold the title – but Matthieu Ricard is the world’s happiest man, according to researchers.

Embedly Powered

Greek Debt Committee Just Declared All Debt To The Troika “Illegal, Illegitimate, And Odious”

Greek Debt Committee Just Declared All Debt To The Troika “Illegal, Illegitimate, And Odious”It was in April when we got a stark reminder of a post we first penned in April of 2011, describing Odious Debt, and why we thought sooner or later this legal term would become applicable for Greece, because two months ago Greek Zoi Konstantopoulou, speaker of the Greek parliament and a SYRIZA member, said she had established a new “Truth Committee on Public Debt” whose purposes was to “investigate how much of the debt is “illegal” with a view to writing it off.”

Embedly Powered