Justice using JPM settlement to pursue other banks

The public interest group Better Markets today filed suit against the Department of Justice and Eric Holder, alleging that the so-called $13 billion settlement that the Federal government entered into with the nation’s biggest bank was improper due to its secrecy and lack of third-party review.

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 · Justice gets lost as the Feds shake down banks. haggle for months and then announce a giant settlement costing the bank’s shareholders billions. And.

NEW YORK ( TheStreet) — The U.S. Justice Department. $25 billion settlement. The Fed’s largest penalty is against JPMorgan Chase, for $275 million, followed by penalities of $207 million against.

Justice using JPM settlement to pursue other banks Viewpoint: Bernanke Admits Misjudging mortgage crisis fannie mae: millennials finally starting to buy homes CHICAGO – Millennials are finally starting to show interest in homeownership. Weighed down by massive student debt and job struggles, the generation brutalized by the Great Recession.

JPMorgan Chase, Justice Department reach tentative $13 billion deal over mortgage-backed securities. A number of big banks, including JPMorgan, Goldman Sachs and Citigroup, previously have been accused of abuses in sales of securities linked to mortgages in the years leading up to the crisis.

Huge Mortgage Choice Act critic was supporter in August Mortgage ‘Points and Fees’ Bill Becomes Unexpected flash point. washington Despite a strong industry push, a bill to amend the consumer financial protection bureau’s "qualified mortgage" rule is facing an uphill battle to enactment this year. The House passed the Mortgage Choice Act earlier this week with bipartisan support,

Thus, on February 9, 2012, US Attorney General Eric Holder announced the National Mortgage Settlement, which fined JPMorgan Chase and four other mega-banks a total of $25 billion. 2

 · Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and, with two others, were fined nearly $6 billion in another settlement in a.

WASHINGTON (AP) – JPMorgan Chase. other critics demanded that the big bailed-out banks and senior executives be held accountable. In response, the government in January 2012 set up a task force of.

 · JPMorgan chief executive jamie Dimon fought for the bank’s settlement to include a waiver from criminal prosecution, the person said. But Attorney-General Eric Holder repeatedly refused. The strategy also includes requiring that any future deals include help for homeowners devastated by the housing market’s collapse, the person said.

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Is that $13B settlement with JP Morgan justice or a travesty? with 2 comments If J.P. Morgan pays out $13 billion to settle claims over residential securities as expected, is it reasonable justice or is it unjust?