Links in “Department of Justice”
- U.S. Naming Names of Chinese Cyber Spies
The Department of Justice names several high-ranking Chinese officials as behind several cyber espionage attacks, a "watershed" moment to put faces to what has been a faceless crime. [5/23]
- The Credit Suisse Squeeze Play
How does a bank navigate its way between the Justice Department's efforts to find its clients who are evading tax laws of this country while protecting itself again strict privacy laws of its home country? Money talks. [5/21]
- Has SCRA’s Written Request Provision Been Pushed Aside?
The Servicemembers Civil Relief Act got a lot of attention as a result of the $60 million settlement announced by the DOJ and the Department of Education. The DOJ alleged that a major student loan servicer failed to reduce the rate on loans to servicemembers to 6% when required to do so. However, the statute requires the servicemember to submit a written request for relief before relief is granted. The decision by the CFPB, DOJ and ED appears to ignore this requirement. [5/15]
- Will DOJ Pursue Criminal Cases Against Banks?
U.S. Attorney General Eric Holder is seeking to build ties with banking agencies in anticipation of what may be a wave of criminal cases against banks. [5/6]
- Nuclear Winter? A Look at the Possible Outcomes If the DOJ Brings Criminal Charges Against Global Banks
If the global banks got off easy with their multi-billion dollar settlements, will the Department of Justice bring criminal charges, and if so, would such charges spook bank customers and investors, causing far-reaching consequences? [5/1]
- Operation Choke Point: “Direct Assault” on Free-market Economy
Former FDIC chair calls Operation Choke Point, a DOJ initiative targeting payday lenders, "both alarming and repugnant." [4/24]
- Community Bankers Accuse DOJ of Singling Out Small Banks
ICBA writes to Department of Justice about its Operation Choke Point, an initiative to crack down on short-term lenders, pointing out that its only lawsuit so far has been against a small bank, and that the practice places community banks at a competitive disadvantage with large banks. [4/11]
- OIG Finds Mortgage Fraud a Low Priority for DOJ
Despite public statements by the Department of Justice that mortgage fraud is a high priority, the Office of the Inspector General finds instances that indicate a low prioritization, such as the FBI's ranking of mortgage fraud as the lowest ranked criminal threat in its lowest crime category. [3/17]
- DOJ and CFPB Subpoena PNC
PNC Financial Services Group says the subpoena regards the return rate for its payment-processor clients to determine whether PNC may have facilitated fraud committed by third-parties against consumers. [3/3]
- Not Worth It: Lenders Leaving the Non-QM Market
A growing number of lenders are reporting that they are no longer offering non-Qualified Mortgages due to the added costs of compliance and risks of Department of Justice referrals. [2/19]
