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'We Were Told To Lie,' Say Bank Of America Employees
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19.6.2013 |
NPR News |
| Six former employees and one contractor say Bank of America's mortgage servicing unit consistently lied to homeowners, fraudulently denied loan modifications and offered bonuses to staff for intentionally pushing people into foreclosure, according to a Salon.com report. |
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Also found in: [+]
[demo :: Housing]
[demo :: Foreclosures]
[demo :: Affordable Housing]
[flenvcenter :: Homelessness]
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Bank of America former employees: 'We were told to lie'
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18.6.2013 |
MSNBC |
| Bank of America former employees: 'We were told to lie' |
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Also found in: [+]
[flenvcenter :: Affordable Housing]
[flenvcenter :: Homelessness]
[demo :: Housing]
[demo :: Foreclosures]
[demo :: Affordable Housing]
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Bank Of America Paid Foreclosure Bonuses While Lying To Homeowners
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17.6.2013 |
Think Progres |
| Bank Of America Paid Foreclosure Bonuses While Lying To Homeowners |
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Also found in: [+]
[newstrust :: Housing]
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Former Bank of America workers allege lies to homeowners
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15.6.2013 |
Chicago Tribune: Popular |
| Former Bank of America workers allege lies to homeowners |
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Also found in: [+]
[newstrust :: Housing]
[flenvcenter :: Homelessness]
[demo :: Housing]
[demo :: Foreclosures]
[demo :: Affordable Housing]
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Singapore is focus for latest rate-rigging scandal
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15.6.2013 |
The Guardian -- World Latest |
| Watchdog says 133 traders in 20 banks were involved and says no criminality but efforts showed 'lack of ethics'
Financial regulators in Singapore have found 133 traders in 20 banks attempted to manipulate interest rate and foreign exchange benchmarks, with bailed-out Royal Bank of Scotland among those identified for the toughest punishment.
In a new development in the Libor-rigging scandal, which first erupted a year ago when Barclays was fined £290m for rigging the interest-rate benchmark , the Monetary Authority of Singapore said the banks had taken action against the traders involved, who had left, been demoted or denied bonuses. Their attempts to manipulate interest rates would be mentioned in job references, MAS said.
The traders were not found to have successfully manipulated interest rate benchmarks known as Sibor and Sor, or foreign exchange benchmarks, but were deemed to lack "professional ethics".
"Although the number of traders involved represents a small proportion of the ... |
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Also found in: [+]
[rohithkumar123 :: Community Radio]
[sandman1965 :: Realty]
[newstrust :: Credit Cards]
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DealBook: Executive Covets Goldman Seat Where a Friend Snugly Sits
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13.6.2013 |
International Herald Tribune: Business |
| DealBook: Executive Covets Goldman Seat Where a Friend Snugly Sits |
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'Money bags' PSG eyeing to lure Villas-Boas from Tottenham with 40 mln pound deal
(Cached)
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12.6.2013 |
New Kerala: World News |
| London, June 12 : Tottenham Hotspur is reportedly facing a fight to hold on to their manager Andre Villas-Boas after rich French side Paris Saint Germain has targeted him to replace Carlo Ancelotti. |
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Checks Are In The Mail For Victims Of Foreclosure Fraud
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10.6.2013 |
Think Progres |
| Checks Are In The Mail For Victims Of Foreclosure Fraud |
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Also found in: [+]
[newstrust :: Regulation]
[newstrust :: Credit Cards]
[newstrust :: Housing]
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Is Wall Street the Best Start-Up Incubator?
(Cached)
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28.5.2013 |
Inc |
| Five former investment bankers explain how their experience at big banks helped them become better entrepreneurs.
It used to be that if you were young and ambitious, you headed to Wall Street. These days, those folks are running in the opposite direction.
In the wake of the financial crisis, loads of young financiers are leaving Wall Street--to strike out as entrepreneurs. Some are seeking more meaningful work; others want to take a risk while young and unencumbered. They are certainly well prepared. Like start-ups, banks are demanding and fiercely competitive. And like entrepreneurs, bankers must be skilled at market research, financial analysis, and working in teams.
The ex-bankers do have at least one major edge: Their big bonuses are a perfect source of seed capital. Below, five Wall Street refugees explain why they changed course and how their i-banking experience is helping them now.
Banking experience: Analyst at Goldman Sachs
Current role: Co-founder of VeeV, maker of an ... |
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DealBook: Investor Aiming for the Top, Again
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17.5.2013 |
NY Times: Business |
| DealBook: Investor Aiming for the Top, Again |
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Also found in: [+]
[newstrust :: Housing]
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Federal Reserve: Mistakes Made in Mortgage Settlements
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12.5.2013 |
Crooks Liars |
| A bit of good news for a change for some of the victims of wrongful foreclosures :
Some 96,000 borrowers who received checks to compensate them for wrongful foreclosures on their mortgages will be getting an additional check to correct for errors in the initial payment, the Federal Reserve announced Wednesday.
The Fed said the affected borrowers received initial compensation amounts that were too low because of errors made by Rust Consulting, the company handling the payments.
The new checks will make up the difference between the amounts that should have been paid and the lower amount paid by Rust. Borrowers are being told to cash both the original check and the new checks, which will be mailed around May 17. The borrowers affected had loans serviced by former subsidiaries of Goldman Sachs and Morgan Stanley.
About 96,000 of the 217,000 checks that were mailed to Goldman Sachs and Morgan Stanley borrowers had incorrect amounts, according to the Fed.
The payments were part of a ... |
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Also found in: [+]
[newstrust :: Housing]
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Administrator in mortgage settlement working to fix payment glitch
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11.5.2013 |
Star Tribune: Latest |
| Rust Consulting of Minneapolis says it’s working to fix problems with payments in a $9.3 billion foreclosure settlement. |
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Also found in: [+]
[flenvcenter :: Homelessness]
[demo :: Foreclosures]
[demo :: Housing]
[demo :: Foreclosures]
[demo :: Housing]
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Fed says mistakes made in mortgage settlement
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9.5.2013 |
San Jose Mercury News: Local News |
| WASHINGTON -- Some 96,000 borrowers who received checks to compensate them for wrongful foreclosures on their mortgages will be getting an additional check to correct for errors in the initial payment, the Federal Reserve announced Wednesday. |
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Also found in: [+]
[demo :: Foreclosures]
[demo :: Housing]
[newstrust :: Housing]
[flenvcenter :: Homelessness]
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New York to sue banks over mortgages
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7.5.2013 |
BBC: Business |
| New York's attorney general says he plans to sue major lenders Bank of America and Wells Fargo for violating a $25bn (£16bn) mortgage settlement. |
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Foreclosure compensation checks arrive, but anger some homeowners
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3.5.2013 |
MSNBC |
| Foreclosure compensation checks arrive, but anger some homeowners |
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Also found in: [+]
[flenvcenter :: Homelessness]
[demo :: Foreclosures]
[demo :: Housing]
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DealBook: Goldman Directors Get a Pay Raise
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13.4.2013 |
NY Times: Business |
| DealBook: Goldman Directors Get a Pay Raise |
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Also found in: [+]
[newstrust :: administration]
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Lloyd Blankfein's $21m haul makes him the world's best paid banker
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13.4.2013 |
The Guardian -- World Latest |
| Goldman Sachs chief gets $13m in restricted shares and $5.7m cash bonus on top of his $2m annual salary
Goldman Sachs paid its chief executive, Lloyd Blankfein, $21m last year – and granted him a further $5m in bonus shares in January.
The Wall Street bank handed Blankfein $13.3m (£8.7m) in restricted shares and a $5.7m cash bonus on top of his $2m annual salary last year.
His total 2012 pay was $9m more than in 2011, and the highest since the $68m he received in 2007, before the financial crisis struck.
The payout, disclosed in a filing with the US regulator the Securities and Exchange Commission (SEC) , makes Blankfein, 58, the world's best paid banker.
On top of his annual pay Goldman granted him long-term incentive plan (LTIP) shares worth an additional $5m at today's share price. But he will have to meet performance targets in order to collect the full amount, and the value of the shares could go up or down.
Blankfein's top four lieutenants collected a total of $72m in ... |
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Also found in: [+]
[newstrust :: Credit Cards]
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Bank Of America To Pay $36.8 Million To Military Members For Improper Foreclosures
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7.4.2013 |
Think Progres |
| Bank Of America To Pay $36.8 Million To Military Members For Improper Foreclosures |
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In a surprise, ex-Goldman trader pleads guilty in fraud probe
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4.4.2013 |
Salt Lake Tribune |
| combined News Services
Published Apr 3, 2013 05:59PM MDT
New York • A former Goldman Sachs trader pleaded guilty to wire fraud Wednesday, admitting that he caused his company to lose $118 million in 2007 when he put $8 billion at risk, escalating a case that until now has produced only civil charges. Matthew Marshall Taylor, 34, said he took the position on a futures contract traded electronically through the Chicago Mercantile Exchange in December 2007 to enhance his reputation and boost his earnings in a year when he made $150,000 in salary and $1.... ... |
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Also found in: [+]
[newstrust :: case law]
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Ex-Goldman trader pleads guilty in NY fraud probe
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3.4.2013 |
Twincities.com: Nation |
| NEW YORK—A former Goldman Sachs trader has pleaded guilty to wire fraud. Matthew Marshall Taylor entered the plea Wednesday in federal |
