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HSBC settlement approved: no criminal charges, 5 weeks' profit in fines,...
Remember when HSBC got caught laundering billions for Mexican narco-terror cartels? Remember how they offered to pay five weeks' profits in fines and to defer their executive bonuses to escape...
View ArticleGoldman Sachs really only has to pay half of its settlement for...
The headline figure of a $5B settlement that Goldman will have to pay after admitting to the toxic-asset fraud that led to the global economic collapse is just window-dressing: in the fine print are...
View ArticleJudge OKs potentially lethal lawsuit against the world's largest banks
The biggest banks in the world have admitted to rigging LIBOR, a key interest rate that determines the value of trillions of dollars' worth of assets -- they paid billions in fines as a result. But...
View ArticleHow Audi cheated emissions tests: if (steering) then (pollute)
A report in BILD am Sonntag claims that the California Air Resources Board (CARB) has uncovered the secret test that Audis were programmed to perform to determine whether to pollute like crazy or to...
View ArticleLawmakers' support for bank bailouts was correlated with their individual...
In The Personal Wealth Interests of Politicians and the Stabilization of Financial Markets, researchers from the London Business School and Tillburg University demonstrate the likelihood of US members...
View ArticleWells Fargo also gouged small businesses on credit-card fees
The hits keep on coming for the largest bank in America: in addition to stealing millions with fraudulent overdraft fees, creating 2,000,000 fraudulent accounts, blackballing whistleblowers,...
View ArticleFour years later, we learn why Jamie Dimon's JP Morgan Chase settled US fraud...
In 2013, DOJ lawyers showed JP Morgan Chase CEO Jamie Dimon a draft of a 92-page complaint against his bank. Dimon coughed up $13B to settle the case, and the complaint was sealed, leaving us all to...
View ArticleEquifax waited 5 weeks to admit it had doxed 44% of America, did nothing to...
From mid-May to July 2017, Equifax exposed the financial and personal identifying information of 143 million Americans -- 44% of the country -- to hackers, who made off with credit-card details,...
View ArticleJP Morgan-Chase paid its billions in fines for mortgage fraud by committing...
A lawsuit against JP Morgan-Chase -- the nation's largest bank -- asserts that the institution paid off the $4,200,000,000 in mortgage forgiveness that it agreed to as a settlement for widescale...
View ArticleEquifax will give your salary history to anyone with your SSN and date of birth
Equifax division TALX has a product called The Work Number, where prospective employers can verify job applicants' work history and previous salaries (it's also used by mortgage lenders and others):...
View ArticleLeaked document shows Trump officials planning to force Americans to spend...
Officials in Trump's Department of Energy prepared a plan to use unprecedented "emergency powers" to force the US grid to rely on expensive, unprofitable coal and nuclear power, rather than paying...
View ArticleNew Sanders bill: If a bank is too big to fail, it's too big to exist
In 2008, the Bush and Obama administrations both argued that they had a duty to transfer more than $700,000,000,000 of American taxpayers' money to the largest banks in the country, because these...
View ArticleFacebook's $5B FTC fine was so laughable its stock price went UP after the...
In 2011, the US Federal Trade Commission put Facebook under consent decree after the company "deceived consumers by telling them they could keep their information on Facebook private, and then...
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