Links in “Fines, Penalties, Suits, and Settlements”
- Seven Largest Bank Fines
This slideshow gives an overview of the seven heaviest sanctions-related penalties against banks, from the recent BNP Paribas to 2009's fine against Credit Suisse. [7/10/14]
- Fines from France to Germany
The American government's hunt for illicit money has led it from the French banking giant BNP Paribas to the German Commerzbank. The investigation is still under way, but it would seem thatâ in comparison with the French, the Germans will be getting off relatively easy. [7/8/14]
- Questionable Mortgage Practices = Nearly $1 Billion Settlement
SunTrust, a bank in Atlanta, is racking up the fines for "deficiencies in [its] administration of HAMP during the recession." [7/7/14]
- Maternity Leave Part 2: HUD Announces Another Fine
Following last week's announcement of a settlement with a credit union for denying a mortgage because one of the applicants was on maternity leave, the U.S. Department of Housing and Urban Development settles another claim with a California-based mortgage lender for denying or delaying mortgage loans to women because they were on maternity leave. Time to take another look at what your loan policy says about maternity leave? [7/2/14]
- 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]
- 84 Credit Unions Fined for Late Call Reports
NCUA meant business when it said it would fine credit unions for filing their 5300 Call Reports after the filing deadline. Last month 84 credit unions were assessed fines with the largest individual fine being $10,000. [7/1/14]
- $9B BNP Fine Intended to Serve as Wake-up Call to Shareholders
Justice Department says the $9 billion fine against France's BNP Paribas will hopefully be a wake-up call to shareholders about the importance of holding corporate chiefs accountable for following the law. The bank was accused of falsifying records to conceal funneling billions of dollars from blocked nations through its U.S. operations. [7/1/14]
- International Activity Costs BNP Paribas $500m in Penalties
The Federal Reserve on Monday announced a $508 million penalty against BNP Paribas, S.A., Paris, France--the largest penalty ever assessed by the agency--for violations of U.S. sanctions laws. [7/1/2014]
- No Children Allowed: HUD’s Antidiscrimination Crackdown Continues
Department settles with group stemming from allegations they advertised a condominium complex as a place where children were not allowed to live, a violation of the Fair Housing Act. Worth noting that the action was the result of a referral from another group that receives funding from HUD to serve as watchdogs for discrimination. [6/30/14]
- FDIC Cracks the Whip
The FDIC issued a total of 39 orders which include two consent orders; one prompt corrective action directive; seven removal and prohibition orders; seven section 19 orders; three civil money penalties; 16 orders terminating consent orders and cease and desist orders; one order dismissing notice of assessment of civil money penalties and order to pay; one order terminating supervisory prompt corrective action directive; and one final order of dismissal. [6/30/14]
