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Largest US banks all pass latest round of Fed 'stress tests'

WASHINGTON (AP) — All of the nation’s 31 largest banks are adequately fortified to withstand a severe U.S. and global recession and keep lending, the Federal Reserve says. 124 more words

News

The Feds Are Going After Angelo Mozilo -- Bank of America braced for $17bn settlement over mortgages case

Countrywide Financial Corp. co-founder Angelo Mozilo hasn’t entirely escaped prosecutors’ wrath for his company’s risky lending. A U.S. government task force wielding an innovative legal strategy plans to bring a civil case against him over the excesses of the subprime-mortgage boom. 975 more words

Trade

JPMorgan Accused Of Predatory Tactics In Minority Neighborhoods

JPMorgan Chase & Co has been sued by the city of Miami, accusing the bank of predatory mortgage lending in minority neighborhoods that allegedly caused a wave of foreclosures during the last decade’s housing crisis. 353 more words

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