New York (AFP) - Four major banks have reached separate agreements to settle a US civil lawsuit over alleged foreign-exchange rigging in deals totaling nearly $1 billion, sources close to the situation said Wednesday.
One week ago we demonstrated just how massive the second Chinese housing bubble when we showed the ridiculous move at the epicenter of China's latest scramble to reflate "animal spirits" in Shenzhen - one which has put even the recent Chinese stock market bubble to shame - as follows:
By Margaret ChadbournWASHINGTON (Reuters) - Foreclosed houses managed by Deutsche Bank in black and Latino neighborhoods had more broken windows, damaged roofs, overgrown lawns and trash in the yard than those it managed in nearby white neighborhoods, a nonprofit group said in a complaint to federal officials on Tuesday.The bank took much better care of foreclosed homes in white neighborhoods, and also marketed them more effectively, said the National Fair Housing Alliance, which filed its accusations with the U.S. Department of Housing and Urban Development.
Back in April, Deutsche Bank agreed to pay $2.5 billion (or around $25,475 per employee) to the DoJ, the CFTC, the NY Department for Financial Services, and the UK’s FCA in connection with the bank’s role in the global conspiracy to rig LIBOR (and EURIBOR, and TIBOR, but who’s counting).
The Wall Street Journal reported today J.P. Morgan Reaches $13 Billion Tentative Deal with Justice Department. However a criminal investigation is not yet closed.
J.P. Morgan Chase & Co. has reached a tentative deal to pay a record $13 billion to the Justice Department to settle a number of outstanding probes of its residential mortgage-backed securities business, according to a person familiar with the decision.