After Corruption Scandal Federal Reserve Says It May Start Enforcing Law

By: Tuesday October 21, 2014 9:16 am

In the aftermath of the exposure of the Federal Reserve collaborating with Goldman Sachs to prevent the bank from being accountable for breaking the law, Fed officials warned Wall Street that if banks did not cut back on reckless and criminal behavior they might finally face penalties including being broken up. The warnings were issued [...]

Fed Cracks Down on New Mergers at the Biggest Banks

By: Thursday December 13, 2012 9:15 am

I do go on about the lack of regulation at the big banks. But I’ll have to grant the Federal Reserve a modicum of credit for this action: The Federal Reserve is pushing large U.S. banks to forget about all but the smallest acquisitions for a while amid a raging debate over the risk big [...]

Banks Rake In Profits – Largely From Government Supports

By: Wednesday December 5, 2012 3:37 pm

It goes without saying that you should not weep for the banking industry. In the years following a Great Recession they caused, they still manage to churn out record profits. This is the 13th straight quarterly rise in profits for financial institutions. The industry’s third-quarter earnings jumped 6.6% from the same period in 2011, to [...]

Fed Governor Daniel Tarullo: Break Up the Banks

By: Thursday October 11, 2012 8:30 am

In an announcement that would have really helped two years ago, Federal Reserve Governor Daniel Tarullo called for a size cap on the largest financial firms. Tarullo is the point person at the Fed for bank policy, including consumer protection and regulatory measures. So he’d be in the best position in that organization to know [...]

Harmonic Covergence on Bank of America

By: Wednesday December 1, 2010 11:29 am

Three events managed to converge today that spell increasing trouble for Bank of America. They appeared on Capitol Hill at a second Senate Banking Committee hearing on foreclosure servicing problems, and got predictably ripped to shreds. The best way to cover this hearing is to go back and read the #ffraud tag on Twitter. While [...]

This Week’s Developments in Foreclosure Fraud

By: Monday November 15, 2010 8:18 am

Forget about the lame duck session for a second. It doesn’t look as if a whole lot will be accomplished, and outside of Charlie Rangel’s ethics trial there isn’t much entertainment value to be had, either. Of far more news value will be the developments this week on foreclosure fraud, only one of which involves [...]

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