The U.S. Justice Department has given banks about a month to come clean about wrongdoing as it moves closer to wrapping up an investigation into the rigging of currency benchmarks, a person familiar with the probe said.
The US Justice Department is reportedly pushing for a $10bn fine to be levied against BNP Paribas to settle charges that the French bank flouted economic sanctions against Iran, Sudan and other countries.
Credit Suisse agreed to pay $2.6bn in penalties and pleaded guilty to helping Americans cheat on their taxes, making it the first global bank in a decade to admit to a crime in a U.S. courtroom.
U.S. Attorney General Eric Holder said his department is readying criminal cases against banks that show financial institutions aren’t too big to prosecute.
No American financial institution is too large to indict and no bank executive immune from criminal prosecution, Attorney General Eric Holder said.
The boss of America's biggest bank, JP Morgan, was on Thursday personally negotiating a new financial settlement with US regulators over allegations stemming from the way the bank sold sub-prime mortgage bonds before the banking crisis. The settlement could reach a record $11bn (£7bn)
Texas will launch a challenge to a central piece of civil rights legislation in a Washington court on Monday in a case the Obama administration has characterised as a fight to protect the right to vote.
The attorney general Eric Holder has become the first sitting member of a president's cabinet in US history to be held in contempt of Congress after Republicans vented their fury over a bungled gun-tracking investigation.
Congress is heading for a new showdown with the White House after Republicans took the rare step of voting to declare the attorney-general Eric Holder in contempt over a botched smuggling operation aimed at Mexican drug cartels.