The U.S. Justice Department on Monday charged Deutsche Bank’s former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the 2007-2009 financial crisis.
Goldman Sachs has hired Jose Abad to cover Spanish banks for its equity research team.
HSBC Chairman Douglas Flint had some advice for bank executives meeting in London last week: Read up on how the U.S. uses financial warfare against its enemies in a foreign-policy shift that’s entangling firms.
The U.S. Justice Department didn’t blink in its pursuit of a guilty plea from Credit Suisse for helping thousands of Americans evade taxes. What prosecutors accomplished with the criminal conviction - the first of a major bank in a decade - isn’t as clear.
Credit Suisse is in talks with the U.S. Justice Department to pay as much as $1.6bn to resolve an investigation into the bank's role in helping Americans evade U.S. taxes, a person familiar with the matter said on Monday.
Bank of America, one of the nation's largest banks and mortgage providers, has been working aggressively to put its mortgage liabilities behind it. Last month, it announced a $6.3 billion settlement of its outstanding mortgage-security and other contract issues with Fannie Mae and Freddie Mac.
HSBC has made some progress in improving its anti-money laundering program as required by a 2012 deferred prosecution agreement with the U.S. Justice Department, but there remains 'much work to be done', federal prosecutors said in a Tuesday court filing.
Bank of America’s handling of futures trades has been investigated by the U.S. Department of Justice and the Commodity Futures Trading Commission, according to a regulatory filing in June.
Wells Fargo said on Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.
The U.S. Justice Department is 'aggressively investigating' possible manipulation of foreign exchange rates by a number of banks, Deputy Attorney General James Cole said.