NYDFS & OCWEN Reach Deal: $150 Million Fine W/ CEO Erbey Shown The Door

NYDFS Forces OCWEN To Show CEO Erbey Shown The Door James Sterngold and Alan Zibel at the Wall Street Journal report that the New York Department of Financial Services and Ocwen Financial have reached a settlement in the NYDFS’s claims of servicing fraud against New York homeowners. As part of the deal, Ocwen also will […]

It’s Raining Men In London As Bankers Plummet To Their Deaths

London Stunned By Spate Of Financial Worker Deaths Michael Kelley, Business Insider A series of deaths among finance workers has shaken London and raised more concerns about stress levels of bankers, Ben Wright and David Enrich of The Wall Street Journal report. On Tuesday morning, a 39-year-old JP Morgan employee died after falling from the roof of the European headquarters of […]

Thanks To GOP Budget Cuts, White Collar Criminals Go Scot Free

GOP Budget Cuts Mean Less White Collar Criminals Get Investigated The Huffington Post  |  By Mark Gongloff Austerity isn’t just hurting the U.S. economy: It’s also starving Wall Street’s watchdogs. The Commodity Futures Trading Commission has decided not to press charges against two traders in the “London Whale” case partly because it is so strapped for cash, […]

White House Wants to Expand Refis for Underwater Borrowers

White House may be looking to expand the number of borrowers who can refinance their mortgages. Brian Browdie, American Banker The White House is considering a proposal that would authorize Fannie Mae and Freddie Mac to guarantee repayment by borrowers whose homes are underwater and whose mortgages aren’t backed by the government, the Wall Street Journal reported Wednesday. […]

Death To LIBOR Manipulators

William D. Cohan, Bloomberg There is no point in mincing words: UBS AG (UBSN), the Swiss global bank, has been disgracing the banking profession for years and needs to be shut down. The regulators that allow it to do business in the U.S. — the Federal Reserve, the Securities and Exchange Commission, the Commodity Futures Trading Commission […]

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