Blowing the Whistle on Banks’ Misbehavior Can Be Worth MillionsAs government agencies continue to pepper banks like Bank of America Corp. ( ) , Citigroup ( ) and JPMorgan Chase & Co. ( ) with lawsuits tied to fraudulent behavior, they have often been aided by insiders willing to turn over first-hand information for a cut of the action.

Bank of America, QBE to settle insurance lawsuit for $228 millionCredit: Reuters/Mike Blake A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014. The deal reached in Miami federal court is the latest of several multi-million-dollar settlements reached over “force-placed” insurance, which is coverage that lenders arrange to protect their interest in a property when a homeowner’s insurance has lapsed.

BofA to spend $9.33 billion in FHFA settlement – The Boston GlobeNEW YORK – Bank of America will spend $9.33 billion to resolve a dispute over mortgage securities with the Federal Housing Finance Agency, the regulator that oversees Fannie Mae and Freddie Mac. The agency sued 18 financial institutions in 2011 over their sales of mortgage securities to Fannie and Freddie.

In lawsuit, FDIC accuses 16 big banks of fraud, conspiracyThe Federal Deposit Insurance Corp. has sued 16 big banks that set a key global interest rate, accusing them of fraud and conspiring to keep the rate low to enrich themselves. The banks include Bank of America, Citigroup and JPMorgan­ Chase in the United States.

Bank of America back in court over $2.1 billion fraud penaltiesNEW YORK (Reuters) – A U.S. judge wrestled on Thursday with a U.S. Justice Department request that Bank of America Corp pay $2.1 billion in penalties after being found liable for fraud over defective mortgages sold by its Countrywide unit. In a second hearing on the penalties to be imposed on the bank, U.S.

The Vampire Squid Strikes Again: The Mega Banks’ Most Devious Scam YetIllustration by Victor Juhasz Call it the loophole that destroyed the world. It’s 1999, the tail end of the Clinton years.

Lawsuit No Way To Challenge JPMorgan’s $13 Billion SettlementA Washington activist group has sued to derail the Justice Department’s record-setting $13 billion settlement with JPMorgan, laying out a compelling philosophical case against such privately negotiated deals but failing to make a legal argument that a judge will buy.

BofA, Goldman among banks facing $16 billion in finesNEW YORK (MarketWatch) – The settlements of lawsuits so far with major banks pave the way for some $16 billion in additional penalties to be paid by banks including Bank of America and Goldman Sachs Group over mortgage securities sold to government-seized housing giants Fannie Mae and Freddie Mac.

U.S. Wants To Add $1.23 Billion To Bank Of America’s Tab For Countrywide ScamBack in October, a federal jury found Bank of America liable for a Countrywide Financial program that deliberately sold piles of worthless loans to Fannie Mae and Freddie Mac before the housing bubble went kaflooey. At the time, prosecutors had only sought $864 million in penalties, but now the Justice Dept.

Justice Dept. says Bank of America should be fined $2.1 billion for mortgage fraudReuters/Mike Blake The United States government is now seeking $2.1 billion in fines from Bank of America for selling fraudulent loans that precipitated the Great Recession, more than double the amount it initially sought last year.

Exclusive: Bank of America’s trading practices have been probed, filing showsNEW YORK/WASHINGTON (Reuters) – The U.S. Department of Justice and the Commodity Futures Trading Commission have both held investigations into whether Bank of America (BAC) engaged in improper trading by doing its own futures trades ahead of executing large orders for clients, according to a regulatory filing.

Detroit weighs lawsuit against Bank of America, UBS over soured debt dealThe City of Detroit faces a game of chicken with two global banks after U.S. Bankruptcy Judge Steven Rhodes rejected their proposed swaps settlement and said the debt might have been illegal to begin with.

Bank of America’s Billion-Dollar Judgement Day Is Only Days AwayMore than two years after a settlement was struck between Bank of America ( ) and 22 institutional investors over a passel of mortgage securities gone bad, a job promotion for the judge presiding over final approval of the deal means a decision will be announced very soon, probably within two weeks.

How Bank of America and Others Schemed to Exploit YouMy idea of New York, and by that I mean the controlling interest there, is that they sit back and look upon the rest of the country much as Great Britain looks upon India. Senator Henrik Shipstead, Minnesota, 1922 In the middle of 2011, Bank of America settled an otherwise nondescript lawsuit with the City of San Francisco for the paltry sum of $5 million.

Bank of America: Not Stopped, Not Slowed, Not HarmedFueled by the Fed’s easy money policies and an improving economy, U.S. stocks just closed their best year since 1995 . Prior to the final day of trading for 2013, the Dow was up 29% when dividends are included and the S&P 500 32%. The market smiled particularly favorably upon the financial services sector.

Decades-long ties to Madoff cost JPMorgan $2.6 billionCredit: Reuters/Neil Hall 1 of 4. Workers are reflected in the windows of the Canary Wharf offices of JP Morgan in London September 19, 2013. Even as the bank cut its exposure to Madoff’s fund to minimize its losses it what ended up being a $17.3 billion Ponzi scheme, JPMorgan never shared its doubts with U.S.

Bank of America, financial cockroachWASHINGTON, January 5, 2014 – Bank of America is in the newspaper every other day, or so it seems. “You are in trouble” news still sells. BOA purchased troubled mortgage lender Countrywide Financial in 2008 for $2.5 billion. They should have passed on the deal.

Bank of America Corp (BAC) Settles MBS Lawsuit with MassCountrywide Financial Inc., acquired by Bank of America Corporation ( BAC) in 2008, recently entered into a settlement with Massachusetts worth $17.3 million. While a portion of the settlement fee – $11.3 million – will be utilized to compensate investors with the Pension Reserves Investment Management Board, the remaining – $6 million – will be handed over to the state.

BofA’s legal costs mount in Countrywide mortgage fiascoFederal prosecutors want BofA to pay $864 million after the bank’s stinging defeat in a major civil fraud trial in October. A jury found BofA liable in a case centered on a Countrywide program called “The Hustle,” which churned out risky home loans before selling them to mortgage giants Fannie Mae and Freddie Mac.

Credit Suisse Sued by New Jersey AGCredit Suisse Group AG’s legal woes continue to multiply. The Swiss bank was recently sued by New Jersey’s Attorney General, John J. Hoffman.