It has been reported that many of the largest banks in the U.S. discriminated on a regular basis against minority borrows. One of the most pernicious practices in which these banks engaged d... Read more
Morgan Stanley has settled with Massachusetts in a subprime lending case. The investment bank agreed to a $102 million settlement following an investigation into subprime mortgage lending. S... 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
Things have really changed in this country since 1948 when Harry Truman was President. That year, 56% of profits in the U.S. economy came as a result of manufacturing. And, at that time, 8.3... Read more
Countrywide Financial Corp, the mortgage lender acquired by Bank of America Corp., has agreed to a $624 million settlement of a lawsuit accusing it of misleading investors about its lending... Read more
Morgan Keegan & Co., the brokerage division of Regions Financial Corp., and some of its former top investment professionals, have been charged with misrepresentation, making unsuitable i... Read more
Goldman Sachs Group Inc. has been charged with fraud by the U.S. Securities and Exchange Commission in the structuring and marketing of a debt product tied to subprime mortgages. The SEC all... Read more
Members of Congress must figure out how to overhaul the regulatory structure overseeing the U.S. financial system. Stricter rules governing risky financial products are long overdue. Avoidin... Read more
The subprime mortgage collapse has already triggered a wave of class actions by shareholders who allege that Fannie Mae, Freddie Mac and underwriters hid the true financial health of the two... Read more
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