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Bank of America Record Settlement with Remorse

Missoula     Accurate reports seem to indicate that the Justice Department is in the final drafting of a record setting, highest corporate penalty ever paid with Bank of America for mortgage related abuses. The price tag is going to be slightly north of $16 billion with $9 billion going to the government by way of a [...]

Bad Math and Foreclosures are Twin Towers of Banking

New Orleans  I know you are sick about hearing about foreclosures.  I sure am!  This has all gone on so long and so painfully, and now even the so-called settlements and cleanup of the mess is extending the tragedy.

            What do we have now?   Bank of America makes an accounting error and the miscalculation [...]

How can Billion Dollar Fines be Little More Than Water off a Duck’s Back?

New Orleans   I hate to admit it, but to me a billion dollars still seems like a whole lot of money.  Unfortunately, I’m afraid saying so makes me hopelessly hide bound and old school.

            Why?

            Because the government seems to be passing out billion dollar fines like candy to banks, utility companies, oil [...]

Banks Shirking Responsibility for Foreclosed Property Maintenance

New Orleans  I woke up to headlines indicating that the National Fair Housing Alliance has accused Minneapolis-based U.S. Bank of effectively “red lining” blight into largely African-American and Latino neighborhoods in 35 different cities in 15 metropolitan areas.  Recently the alliance added New Orleans, Dallas, New Haven, and Hampton Roads, Virginia to an amended complaint [...]

Debit and Credit Card Security

Little Rock  There was an interesting piece in the paper about what one commentator jokingly referred to as a “hot bank on bank” story based on First American Bank of Chicago going public and shaming Bank of America and Mastercard for not shutting down and issuing warnings about taxicab machines that were perpetrating debit card [...]

More News of Banking as a Criminal Conspiracy with BofA and Chase

New Orleans    There are many small town papers that used to thrive by feeding their readers the daily police reports.  These days reading the financial pages is more than an adequate substitute, since every day we seem to get another perp walk in the criminal conspiracy now called modern banking.

I know it’s tedious to [...]