In another lawsuit involving accounting firms, PricewaterhouseCoopers (PwC) and Crowe Horwath will face claims accusing them of professional malpractice and breach of contract. It’s alleged... Read more
The lead Plaintiffs and underwriter banks in a class action accusing JPMorgan Chase & Co. and other financial institutions of misleading investors about the inherent risks of IndyMac Ban... Read more
Shame on the student lending giant Sallie Mae! The lending giant has been ordered to pay nearly $100 million in restitution and penalties for “unfair and deceptive” practices rel... Read more
The Federal Reserve Board, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency released new rules on April 8, 2014. According to the agencies, maintenance of a... Read more
It was reported recently that major banks have quickly become behind-the-scenes allies of Internet-based payday lenders that offer short-term loans with interest rates sometimes exceeding 50... Read more
The Federal Deposit Insurance Corp. has filed lawsuit in the Circuit Court of Montgomery County, Ala., and in the U.S. District Court in New York, against eight of the largest international... Read more
Anyone who has read previous issues of the Report has probably figured out that I’m not a real big fan of the payday lending industry. In fact, I consider this industry to be much like a can... Read more
The government has sued several big banks over toxic mortgage securities they issued that were bought by two small Illinois banks which failed in May 2009. The Federal Deposit Insurance Corp... Read more
The FDIC has developed a new strategy that it believes will avoid a major blow to the economy the next time a big bank or financial firm fails. The agency proposes to do this by seizing the... Read more
During the housing boom, mortgage lenders were making loans to people who could never have previously qualified. Now, homeowners and government officials are increasingly taking these instit... Read more
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