Citigroup has settled a class-action lawsuit with shareholders over how Citi managed subprime securities during the financial crisis, a second-order fraud unconnected to the actual fraud of securitization and knowingly selling the bad securities in the first place. Citigroup said on Wednesday that it had agreed to pay $590 million to settle a class action [...]

After flirting with a countersuit, Standard Chartered Bank is slowly coming around to the deal offered them by New York’s Department of Financial Services in a money-laundering scandal. The bank has agreed to an outside monitor that would oversee compliance with state and federal anti-money laundering laws. This is a prelude to agreeing to an [...]

In addition to everything else the Senate is up to next week, they’re going to try and shoehorn in a unanimous consent request to once and for all approve the black farmers and Native American settlements, known as Pigford and Cobell, in a standalone vote on Monday. On a conference call with reporters Friday, John [...]