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  • WASHINGTON— Banking giant HSBC has reached a $470 million settlement with the federal government and nearly all states over mortgage lending and foreclosure abuses that officials say helped intensify the country's economic meltdown, the Justice Department announced Friday. The agreement requires the bank to pay $100 million and to provide an additional...

  • Wells Fargo to pay $1.2 billion to settle home loan case Wednesday, 3 Feb 2016 | 11:16 AM ET

    NEW YORK— Wells Fargo said it has agreed to pay $1.2 billion to settle a government lawsuit related to its Federal Housing Administration home mortgage program. The bank said Wednesday it reached the agreement earlier this week with the U.S. Department of Justice, two attorneys general and the Department of Housing and Urban Development.

  • Toyota Credit settles US discrimination allegations Tuesday, 2 Feb 2016 | 5:43 PM ET

    DETROIT— Toyota Motor Credit Corp. will pay $21.9 million to black and Asian borrowers as part of a settlement over alleged discriminatory lending. The U.S. Department of Justice and the Consumer Financial Protection Bureau announced the settlement Tuesday. Ally Financial and Honda's U.S. finance arm have reached similar settlements.

  • WASHINGTON, Jan 29- Democratic U.S. Senator Elizabeth Warren released on Friday a report criticizing what she called "shockingly weak" punishments for corporate crimes and condemned the Justice Department and Securities and Exchange Commission for their lax approach. Warren, a favorite among progressives, criticized the Justice Department and federal law...

  • WASHINGTON— The Justice Department should limit the types of cases it brings and more nonviolent criminals should be steered toward probation and away from prison, according to task force recommendations designed to cut the federal inmate count and save more than $5 billion in the coming years. A bipartisan effort to reduce the prison population appears...

  • Cabraser would also lead the Plaintiffs' Steering Committee to hear cases pertaining to Volkswagen's usage of software to evade emissions limits, the U.S. District Court for the Northern District Of California said. Earlier in December, Volkswagen and the U.S. Department of Justice had both urged the U.S. Judicial Panel on multi-district litigation to send...

  • Court documents filed in the United States in June suggested RBS could have to pay as much as $13 billion to settle the mortgage-backed securities claims, although some analysts' estimates are much lower. "RBS is next in line and we would expect a settlement very soon," Chirantan Barua, analyst at Bernstein Research, said. The U.S. Department of Justice declined to...

  • A letter on Tuesday from Representative Maxine Waters, the top Democrat on the House Financial Services Committee, and fellow committee members Michael Capuano, Emanuel Cleaver and Keith Ellison called on the Justice Department and the Consumer Financial Protection Bureau to "pursue appropriate corrective action" against Clayton. It followed a report...

  • Federal probe sought for Buffett's mobile home unit Wednesday, 13 Jan 2016 | 10:52 AM ET

    A letter on Tuesday from Representative Maxine Waters, the top Democrat on the House Financial Services Committee, and fellow committee members Michael Capuano, Emanuel Cleaver and Keith Ellison called on the Justice Department and the Consumer Financial Protection Bureau to "pursue appropriate corrective action" against Clayton. It followed a report...

  • Connecticut, Florida, Iowa, Massachusetts and Tennessee are among the states that have joined forces to investigate the proposed deals, according to sources close to the states, who spoke to Reuters over recent days. The presence of a large number of attorneys general joining a Justice Department probe underscores the hurdles that both proposed combinations...

  • WASHINGTON, Jan 8- The U.S. Justice Department's consumer protection unit is looking into a norovirus outbreak at a Chipotle restaurant in California, in a sign that a recent probe launched by federal prosecutors in California is getting attention at Washington headquarters. Officials in the Justice Department's Consumer Protection Branch contacted Los...

  • WASHINGTON, Jan 8- The U.S. Justice Department is looking into a norovirus outbreak at a Chipotle Mexican Grill restaurant in California, according to people familiar with the matter, signaling heightened interest from Washington on food safety issues. Officials in the Justice Department's Consumer Protection Branch contacted Los Angeles federal...

  • The allegations in the lawsuit carry penalties that could cost Volkswagen billions of dollars, a senior Justice Department official said. "The United States will pursue all appropriate remedies against Volkswagen to redress the violations of our nation's clean air laws," said Assistant Attorney General John Cruden of the environment and natural resources...

  • Dec 31- A federal judge on Thursday dismissed a lawsuit by Quicken Loans Inc against the U.S. Justice Department that alleged the company was being forced to make a big settlement over its mortgage lending and underwriting practices. Quicken had sued the Justice Department and the Department of Housing and Urban Development in April, saying it was pressured to "...

  • UPDATE 1-Puerto Rico, U.S. settle storm water issues Wednesday, 23 Dec 2015 | 11:26 AM ET

    WASHINGTON, Dec 23- Puerto Rico will spend $77 million to upgrade its water infrastructure in a settlement with the federal government, the U.S. Department of Justice announced on Wednesday. The settlement comes as Puerto Rico struggles to come up with enough cash to service its debt load of roughly $72 billion. Upgrades to the water infrastructure will be...

  • AUCKLAND, Dec 23- German tech entrepreneur Kim Dotcom on Wednesday lost a bid to block his extradition from New Zealand to the United States to face charges including copyright infringement and money laundering, a major victory for the U.S. Department of Justice in the long-running case. The decision by a New Zealand court comes almost four years after police...

  • AMC wins U.S. approval to buy Starplex theaters Tuesday, 15 Dec 2015 | 4:58 PM ET

    WASHINGTON, Dec 15- AMC Entertainment Holdings Inc has won U.S. antitrust approval to buy Starplex Cinemas on condition that it sell one theater in Connecticut and one in New Jersey, the Justice Department said on Tuesday. The deal was valued at $172 million, the department said. AMC operates 349 theaters with 4,975 screens, most of them in the United States.

  • Dec 15- Halliburton Co and Baker Hughes Inc said U.S. antitrust officials were not satisfied with the concessions they offered to win approval for their proposed merger, and that officials said they would assess further proposals. The two oilfield service providers said it was unlikely they would be able to settle with the U.S. Department of Justice by Tuesday,...

  • Dec 9- U.S. officials on Wednesday sued J.C. Penney Co Inc, accusing the retailer of deceiving consumers by advertising textile fiber products as containing bamboo and bamboo fiber, when they actually contain rayon. According to a complaint filed by the Department of Justice and Federal Trade Commission, J.C. Penney in "numerous instances" deceptively...

  • WASHINGTON, Dec 8- A U.S. judicial panel said Tuesday that up to 451 civil lawsuits filed against Volkswagen AG over use of software to evade emissions limits will be heard by a federal judge in California. District Judge Charles Breyer in northern California, after VW and the Justice Department had urged that the cases be heard in Detroit. The panel noted that 101...