Blog posts with "JPMorgan Chase"

Displaying 1-4 of 4 result(s).

Regulators Ban Wells Fargo and HSBC from Acquiring New Mortgage Servicing Business

The Office of the Comptroller of the Currency recently restricted mortgage servicing operations at Wells Fargo, HSBC, JPMorgan Chase, Santandar Bank, U.S. Bank, and EverBank based on their failure to comply with the mortgage servicing standards the banks agreed to within the consent orders they entered into following “scandals involving the so-called robo-signing of foreclosure documents by officials without knowledge of the facts as well as other legal shortcuts, lost paperwork and imprope...

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Five Major Banks Plead Guilty to the Antitrust Crimes of the Cartel created by their Currency Traders

As reported in this PBS NewsHour video by anchor Judy Woodruff: Five major institutions pled guilty to rigging currencies and manipulating the foreign exchange market. The banks also agreed to pay more than $5 billion combined in new penalties. The fines were some of the biggest brought to date by the federal government. The banks were accused of manipulating the world’s largest and least regulated trading market, where trillions of dollars change hands. Among those pleading guilty, J.P. M...

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The $9 Billion Witness JPMorgan Failed to Silence

Journalist Matt Taibbi of Rolling Stone recently exposed the story of Alayne Fleischmann, the Department of Justice's key witness supporting the $9 billion (claimed to be $13 billion) mortgage & securities fraud related settlement of November 19, 2013. Fleischmann provides a long and detailed account of the circumstances leading up to the DoJ's resolution of JPMorgan Chase's culpability in relation to what Fleischmann describes as "massive criminal securities fraud" within the bank's mort...

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JPMorgan Chase Settles Whistleblower Suit and Admits to Defrauding Taxpayer Insured Mortgage Programs

JPMorgan Chase’s most recent settlement with the Department of Justice to resolve a private whistleblower lawsuit includes a rare admission of guilt and an agreement to “pay $614 million for violating the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for insurance coverage and guarantees by the Department of Housing and Urban Development’s (HUD), Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA).” Spec...

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