News Topic: doj

The division asked for public feedback as it weighs changes "to reflect emerging trends in the banking and financial services sector." ... Read full article

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse. ... Read full article

Due to possible exploitation, Bank of America instituted a policy that limited loans to persons in guardianships, but later ended that policy. ... Read full article

Anita Gail Moody, who was president of Enloe State Bank, admitted to creating phony loan documents — and setting a fire to destroy them — before the bank was shuttered in May 2019. ... Read full article

The Georgia company said the agency is looking at its policies for paying, or withholding, Paycheck Protection Program fees to borrowers' agents. ... Read full article

Prosecutors charge two Rhode Island men with trying to rip off the program; the bank says it has received “inquiries” from state and federal officials on its offering of small business loans. ... Read full article

The Justice Department has begun a preliminary inquiry into how taxpayer money was lent out under the Paycheck Protection Program and has already found possible fraud among businesses seeking relief, a top official said. ... Read full article

The chair of the House Financial Services Committee, Maxine Waters, contends that Tim Sloan knowingly made misleading and inaccurate comments during a hearing before her panel last year. ... Read full article

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things. ... Read full article

The ten-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership. ... Read full article

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions. ... Read full article

The four members of China’s People’s Liberation Army are accused of masterminding the breach that affected more than 140 million people. ... Read full article

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal. ... Read full article

Stephen Calk and the bank where he formerly served as CEO are both arguing that his bribery trial should be held in Illinois. Prosecutors oppose the move. ... Read full article

Several former high-level Wells Fargo executives are under criminal investigation in connection with the bank's fake-account scandal and could be indicted as soon as this month. ... Read full article

Stephen Calk, who faces a bribery charge in connection with loans his bank made to former Trump campaign chair Paul Manafort, is asking a judge to suppress evidence that prosecutors obtained from his mobile phone. ... Read full article

BB&T and SunTrust had to sell the branches to get Justice Department approval, marking a big step towards closing their merger. ... Read full article

The McLean, Va.-based company is under law enforcement scrutiny for loans that helped propel a boom and bust in the taxi medallion market in New York City. ... Read full article