Fired Examiner Alleges Chaotic Workplace at New York Fed

Jake Bernstein, ProPublica An amended lawsuit by fired bank examiner Carmen Segarra describes a chaotic work environment at her old employer, the Federal Reserve Bank of New York, alleging that lines of authority were unclear and bad behavior by a supervised bank went unexamined. A spokeswoman for the New York Fed said the bank was […]

New York Fed Chief Levels Slams Big Banks

Shahien Nasiripour, Huffington Post The head of the Federal Reserve Bank of New York said Thursday that some of America’s largest financial institutions appear to lack respect for the law, a potentially explosive charge against an industry already roiling from numerous government investigations into alleged wrongdoing. William Dudley, one of the nation’s top banking regulators […]

The Bad Dinner Date BofA CFO Bruce Thompson Wishes He Skipped

Dan Freed, The Street Bank of America CFO Bruce Thompson faced questions from investors this week over a recent ruling that some believe may persuade a judge to reject an $8.5 billion settlement the bank reached with 22 institutional investors over mortgage backed securities liability. The settlement, reached in 2011, covers $108 billion in mortgage backed securities (MBS). […]

BofA Dismisses $8.5B Settlement As Nothing More Than “Bad Hour”

Bank of America CEO: $8 Billion Subprime Settlement Is ‘Like a Bad Hour for Us’ Dan Freed, The Street Bank of America (BAC_)’s proposed $8.5 billion subprime mortgage settlement agreement with several large institutions, reached in June 2011, is just a “bad hour,” for the giant bank, according to recent testimony by CEO Brian Moynihan. Moynihan’s […]

Why Wasn’t Jamie Dimon Given The Bum’s Rush By The NY Fed?

Like A Party Guest That Won’t Leave, Jamie Dimon Finally Leaves New York Fed Steve Dibert, MFI-Miami Six months after being shown the door, JPMorgan Chase CEO Jamie Dimon has finally left the Board of Directors of the Federal Reserve Bank of New York. In May, a fierce debate erupted within the NY Fed about […]

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