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Justice Department


  • WASHINGTON, June 1- First Tennessee Bank agreed to pay $212.5 million to resolve a case involving Federal Housing Administration- insured mortgage lending, the U.S. Justice Department said on Monday. Benjamin Mizer of the Justice Department's Civil Division said First Tennessee's "reckless underwriting has resulted in significant losses of federal funds...

  • "The House cannot sue the executive branch over the implementation of existing federal law," Justice Department attorney Joel McElvain told U.S. At issue are payments to insurance companies not expressly appropriated by Congress but being made by the administration, anyway. "We believe we have established what can only be viewed as a concrete injury," George...

  • PHOENIX— Hopi tribal leaders and Arizona's members of Congress are asking U.S. law enforcement to stop the sale of about a dozen sacred Hopi artifacts at a Paris auction house in June. The Hopi Tribe contends the auction house is illegally selling the spiritual objects, known as Katsina Friends, and is urging U.S. Department of Justice and the FBI to help recover...

  • Court won't lift hold on Obama immigration action Tuesday, 26 May 2015 | 4:00 PM ET
    President Barack Obama speaks about immigration reform during a meeting with young immigrants, known as DREAMers, in the Oval Office of the White House in Washington, DC, February 4, 2015.

    An appeals court has refused to lift a temporary hold on President Obama's executive action that could shield millions of immigrants from deportation.

  • GM facing criminal charges over ignition woes Saturday, 23 May 2015 | 12:00 PM ET
    General Motors Chief Executive Officer Mary Barra

    Federal prosecutors have identified criminal wrongdoing in G.M.'s failure to disclose a switch defect, the NYT reports.

  • BEIJING, May 21- A Chinese university denied on Thursday U.S. espionage charges filed against three of its staff who are among six Chinese people the United States has accused of stealing technology often used in military systems. The U.S. Justice Department announced the charges against the six on Tuesday, the third time in as many years that U.S. authorities...

  • AG Lynch: Banks to pay combined $5.6B in FX penalties   Wednesday, 20 May 2015 | 10:05 AM ET
    AG Lynch: Banks to pay combined $5.6B in FX penalties

    U.S. Attorney General Loretta Lynch announces the settlements with global financial institutions in connection with long-running manipulation of the Foreign Exchange (FOREX) spot market.

  • Swiss bank UBS settles US legal cases for $545 million Wednesday, 20 May 2015 | 5:24 AM ET

    BERLIN— Swiss bank UBS says it is pleading guilty to wire fraud and is paying $545 million to settle U.S. cases of market manipulation. The bank said Wednesday that under the deal with U.S. authorities it will be granted conditional immunity from prosecution in a Department of Justice probe on the manipulation of foreign exchange rates. UBS AG said it was the first...

  • LONDON, May 20- Swiss bank UBS said it has settled a probe by U.S. authorities over alleged rigging of currency markets and will pay $342 million to the Federal Reserve. UBS said it would also pay a $203 million penalty and plead guilty to criminal charge with the U.S. Department of Justice, but that relates to manipulation of Libor benchmark interest rates.

  • Wednesday's settlement with the U.S. Department of Justice, the Federal Reserve, and the Connecticut Department of Banking follows a settlement UBS reached six months ago with Swiss financial regulator FINMA, which included a fine and bonus curbs. "The conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions,"...

  • Critics hear EPA’s voice in ‘public comments’ Tuesday, 19 May 2015 | 6:48 PM ET
    Gina McCarthy, administrator of the Environmental Protection Agency

    Critics of the EPA say there is a reason the agency saw overwhelming support from its public comments, the NYT reports.

  • DOJ to announce currency manipulation settlement Tuesday, 19 May 2015 | 6:24 PM ET
    U.S. Department of Justice, Washington, D.C.

    Some major bank holding companies are expected to plead guilty to currency manipulation charges and could pay billions in fees.

  • SAO PAULO, May 19- Brazilian planemaker Embraer SA has entered talks with the U.S. Department of Justice aimed at closing an anti-corruption investigation launched in 2010, according to a securities filing on Tuesday. Embraer said an eventual resolution of the matter with the Justice Department could lead to sanctions, adding that it was impossible to...

  • WASHINGTON, May 19- UPS has agreed to pay $25 million to settle some allegations that it submitted false claims to the U.S. government in an attempt to hide late deliveries, according court documents unsealed on Tuesday and released by the U.S. Department of Justice. The federal government as well as nineteen states, the District of Columbia and the cities of...

  • Time to crack down on serial violator banks: Pro   Friday, 15 May 2015 | 4:33 PM ET
    Time to crack down on serial violator banks: Pro

    UBS will now plead guilty to rigging foreign currencies along with 4 other banks. Is a crackdown long overdue? With Andrew Stoltmann of Stoltmann Law Offices and Marc Lopestri of Lopresti Law Group.

  • Feds unlikely to block AT&T-DirecTV deal: Report Tuesday, 12 May 2015 | 1:04 PM ET
    A pedestrian looks at a mobile phone while walking past an AT&T store in Washington, D.C.

    Federal authorities are unlikely to block AT&T's proposed acquisition of DirecTV, according to a new report.

  • Judge: Banks misled Fannie, Freddie in 2008 Tuesday, 12 May 2015 | 10:04 AM ET
    A Royal Bank of Scotland (RBS) sign is pictured outside a branch in central London.

    Nomura Holdings, Royal Bank of Scotland mortgage bonds contained misrepresentations in 2008, says judge. New York Times reports.

  • NY banking regulator to issue cybersecurity rules Tuesday, 12 May 2015 | 8:46 AM ET
    Benjamin Lawsky, superintendent of the New York State Department of Financial Services.

    New York's financial services regulator will propose new cybersecurity rules to protect the financial sector.

  • Lumber Liquidators pulls Chinese laminate   Thursday, 7 May 2015 | 10:14 AM ET
    Lumber Liquidators pulls Chinese laminate

    CNBC's Scott Cohn reports on Lumber Liquidators latest action as they suspend sales of Chinese laminate flooring made in China.

  • Former controller Kevyn Rakowski and former chief credit officer William North were charged by the Justice Department with making false statements to the Federal Reserve and the Securities and Exchange Commission for allegedly underreporting the number of loans at least 90 days past due in late 2009.. The SEC brought related civil charges against...