Links in “Department of Justice”
- AML Task Force: The Avengers of Anti-Money Laundering
The AML Task Force, made up of eight government agencies, has taken upon itself the task of bettering the world of AML. During the ABA Conference, Under Secretary Cohen detailed the efforts that have been taken as well as future efforts, with an emphasis on the handling of money services businesses. [11/10/14]
- Justice from the Department of Justice
The Department of Justice filed a lawsuit against Twin Oaks Mobile Home Park for refusing to rent or sell homes to families with children. Justice has been served. [10/20/14]
- Banks May Face New Charges over Currency Prices
The Justice Department is preparing charges against a number of U.S. and foreign banks that the agency believes altered foreign currency prices. These new charges follow charges earlier this year that certain American and foreign banks manipulated the Libor and engaged in the sale of faulty mortgage-backed securities. [10/8/14]
- Booming Subprime Auto Lending Industry = Booming DOJ Attention
Santander Consumer joins General Motors as recipients of Department of Justice subpoenas related to their subprime auto loans, a booming market segment fueled in part by an influx of money from private-equity firms. [8/11/14]
- Add Another $16 Billion (or So) to BoA’s Tab?
Reports of a $16-$17 billion Bank of America's settlement would be the largest DoJ settlement arising from economic meltdown. [8/7/14]
- DOJ Targets Subprime Auto Lending
In collaboration with the CFPB, the Department of Justice is going after abuses in the subprime auto lending market. The DOJ has subpoenaed records dating from 2007 from General Motors concerning the securitization of its subprime auto loans. This follows on the heels of an $80 million settlement of a discrimination claim against Ally Bank in its subprime auto lending program. [8/6/14]
- Report: Operation Choke Point Is “World’s Largest Fishing Expedition”
New report is issued calling Operation Choke Point, an initiative by the DoJ and other federal agencies to target the relationship between banks and businesses in certain industries, a threat to due process. [8/1/14]
- FDIC Delivers Blow to Operation Choke Point
Department of Justice's "Operation Choke Point," a controversial program to make access to the financial system difficult for certain businesses, has been dealt a blow by the FDIC, which has withdrawn a list of merchant categories that it said warranted heightened attention by banks. The list, including payday lenders, debt consolidation firms, pornography businesses and others, had been misinterpreted, resulting in banks severing ties with legitimate businesses in those industries, according to the FDIC. [7/29/14]
- Citi’s $7B Bump in the Road
Citibank still beats earnings estimates, despite its $7 billion settlement with the DOJ regarding claims of defrauding investors with its mortgage securities. [7/15/14]
- Take That, DOJ: BNP Posts Biggest Advance in a Year
The message to BNP Paribas' shareholders from yesterday's $9 billion fine may not have resonated quite as much as the DOJ had hoped. After announcing that it wouldn't reduce its dividend or derail growth plans, the bank posted its biggest advance in a year. [7/2/14]
