Financial Reform Newsletter :Another week, another too-big-to-fail bank pays billions to settle yet more claims for fraudulent and illegal conduct for contributing to the 2008 financial crash.

  Financial Reform Newsletter March 28, 2014   Another week, another too-big-to-fail bank pays billions to settle yet more claims for fraudulent and illegal conduct for contributing to the 2008 financial crash.  It was announced this week that Bank of America is paying $6.3 billion (and buying back an additional $3.2 billion …

The Stone that Brings Down Goliath? Richmond and Eminent Domain

In a nearly $13 billion settlement with the US Justice Department in November 2013,JPMorganChase admitted that it, along with every other large US bank, had engaged in mortgage fraud as a routine business practice, sowing the seeds of the mortgage meltdown. JPMorgan and other megabanks have now been caught in over …

Enough Is Enough: Fraud-ridden Banks Are Not L.A.’s Only Option

Enough Is Enough: Fraud-ridden Banks Are Not L.A.’s Only Option Posted on January 29, 2014 by Ellen Brown “Epic in scale, unprecedented in world history.” That is how William K. Black, professor of law and economics and former bank fraud investigator, describes the frauds in which JPMorgan Chase (JPM) has now been implicated. They involve more …

John O’Brien: Mortgage Settlement Fails to Address Banking Criminal Enterprise

Hat tip to Yves Smith! John O’Brien: Mortgage Settlement Fails to Address Banking Criminal Enterprise Posted: 22 Feb 2012 03:09 AM PST Yves here. The release by San Francisco county assessor-recorder Phil Ting of a study of document irregularities in foreclosures has put a spotlight on the failure of Federal …

Occupy the Neighborhood: How Counties Can Use Land Banks and Eminent Domain

Occupy the Neighborhood: How Counties Can Use Land Banks and Eminent Domain Ellen Browneb_small Chairman and President Public Banking Institute An electronic database called MERS (Mortgage Electronic Registration Systems) has created defects in the chain of title to over half the homes in America. Counties have been cheated out of …