Friday, 30 May 2014

Another 15 banks investigated for fraud? Well fancy that

Well fancy that:
(Reuters) - U.S. prosecutors have opened criminal and civil probes into at least 15 banks and payment processors as part of a wide-ranging consumer fraud investigation, according to documents released on Thursday by a congressional committee.
The Justice Department's investigation, known as "Operation Choke Point," is more than a year old and aims to crack down on fraud by going after firms that handle and move money for various suspect businesses.
Just for good measure let me add this one that Reuters also reports today:
The U.S. Attorney's office in Manhattan is investigating at least five banks over whether they overcharged the government for expenses incurred during foreclosures on federally backed home loans, filings and interviews show.
And don't forget my earlier report today: What’s $10 billion? Just another bank fine
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