The French bank was hit with a billion-dollar fine after it was found to have unsafe practices that violated sanctions against Cuba and other sanctioned countries.
UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.
Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.
Readers consider to new evidence regarding Operation Choke Point, debate the impact of Democrats taking control of the House in November, respond to concerns about weakening the Volcker Rule and more.
American Express Co. said the U.S. Department of Justice and several regulators have sought information on its foreign-exchange international payments business.
Investigators have sought more information from the bank in recent weeks about whether management pressured workers to improperly change documents in order to meet a regulatory deadline, according to a news report.
Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.
The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.
Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.
