FBI Warns Sequestration Will Hurt Hard-Hitting Wall Street Investigations

Ryan Grim, Huffington Post More than four years after the financial crisis, not a single Wall Street executive has been jailed for playing a role in the creation of the toxic financial products that fueled the real-estate bubble, which were in some cases designed simply to fail. That track record may make it difficult for […]

Overhaul of rating agencies bogs down four years after financial crisis

Jia Lynn Yang and Dina ElBoghdady, Washington Post The Justice Department’s lawsuit against Standard & Poor’s this week has revived focus on the role of the rating agencies in causing the financial crisis. Yet four years after shoddy mortgage investments bearing top grades nearly took down the country’s economy, government attempts to revamp the rating-agency industry have stalled. Nearly everyone […]

DOJ Criminal Chief Lanny Breuer Stepping Down After Scathing PBS Documentary

By Danielle Douglas, Washington Post Lanny A. Breuer is leaving the Justice Department after leading the agency’s efforts to clamp down on public corruption and financial fraud at the nation’s largest banks, according to several people familiar with the matter. As one of the longest-serving heads of the criminal division, Breuer has had a tenure filled with controversy and […]

BofA Settles Accusations It Discriminated Against Disabled Borrowers

Reuters via Huffington Post Bank of America Corp has agreed to settle U.S. Department of Justice civil accusations that it violated federal laws by discriminating against mortgage applicants on the basis of disability. The accord resolves allegations the second-largest U.S. bank, which made about $152 billion of first mortgages in 2011, imposed extra burdens on […]

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