DOJ has filed over 50 PPP fraud cases


The 57 charges involve $175 million allegedly stolen from the small-business loan program. Defendants are accused of lying on their applications and using funds to buy cars, jewelry and other luxury items.


DOJ antitrust unit considers overhaul of bank merger review process


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


Four bankers of failed thrift charged with helping client embezzle funds


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.


BofA settles federal fair housing discrimination claim for $300K


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


Former banker pleads guilty for role in Texas bank's failure


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.


Justice Dept. asks United Community for PPP documents


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


Justice Department targets PPP fraud; Wells (again) under the microscope


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.


Justice Department sees early fraud signs in SBA loan flurry


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.


Waters asks DOJ to consider criminal charge against former Wells Fargo CEO


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.


Sterling in Michigan facing Justice Department probe of mortgage practices


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.