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Financial Services, Insurance and Banking  : Displaying 39-43 of 70


Morgan Stanley Knew About “Nuclear Holocaust” Mortgage Loans, Taiwanese Lawsuit Reveals
by Pratap ChatterjeeCorpWatch Blog
January 23rd, 2013
Morgan Stanley, a major U.S. investment bank, was well aware of the problems in the sub-prime mortgage market as far back as 2005, according to documents just released in a New York court under a lawsuit brought by the China Development Industrial Bank from Taiwan.

Thanks But No Thanks: Insurance Company Considers Suing Uncle Sam After Rescue
by Puck LoCorpWatch Blog
January 9th, 2013
American Insurance Group (AIG), the world’s largest insurance company, considered suing the U.S. government over the terms of a massive $182 billion bailout that rescued it from almost certain bankruptcy.

U.S. Banks Win Mortgage Fraud Settlement, Borrowers Lose
by Pratap ChatterjeeCorpWatch Blog
January 8th, 2013
Ten major U.S. banks settled charges of illegally kicking people out of their homes for pennies on the dollar, under two agreements with the government. The biggest beneficiary is Bank of America which will win a get-out-of-jail free card for selling fraudulent loans to the government.

U.S. Sues Bank of America for $1 Billion in Bad Mortgages
by Puck LoCorpWatch Blog
October 29th, 2012
Federal prosecutors are suing Bank of America for selling fraudulent loans to Fannie Mae and Freddie Mac, two government-sponsored mortgage finance companies. The government alleged that the multinational sold over $1 billion in bad mortgages that led to numerous foreclosures.

Seven Irish Banks Investigated for Insurance Scam
by Pratap ChatterjeeCorpWatch Blog
October 8th, 2012
Seven Irish banks are being investigated by the Central Bank of Ireland for selling consumers insurance policies that they did not need. Tens of thousands of Irish consumers could get as much as €3,000 ($3,900) each in refunds.