Deutsche Bank facilitated hundreds of millions of dollars of transactions for a corrupt Cyprus bank that served as a hub for illicit money from “the darkest corners of the criminal underworld”, a trove of secret documents obtained by BuzzFeed News reveals.
Deutsche – and its New York subsidiary under scrutiny for its loans to Donald Trump – provided a crucial bridge between FBME Bank and the global financial system, acting as its longstanding correspondent bank in the US and helping some of its most nefarious clients move illicit money into the West.
The Navajo Nation has accused Wells Fargo & Co. of coercing vulnerable members of the tribe into opening accounts they didn't need as part of an aggressive sales campaign for which it has already agreed to pay tens of millions of dollars in penalties and settlements.
In a 55-page lawsuit filed Tuesday in U.S. District Court in Albuquerque, New Mexico, the tribe — whose lands in Arizona, Utah and New Mexico are home to five Wells Fargo branches — accused the bank of targeting minors, the elderly and members who speak limited English for high-pressure pitches to sign...
Last month, Nationstar Mortgage, the nonbank also known as Mr. Cooper, disclosed that it was facing a regulatory issue with the California Department of Business Oversight and in the process of negotiating a settlement.
At the time, the company did not disclose what issues led to the potential settlement, but said that one of the matters at hand stemmed from an examination in 2012.
On Monday, the other shoe dropped.
The California Department of Business Oversight announced Monday that it reached a $9.2 million settlement with Nationstar to resolve allegation...
It’s been a year of settlements for Ocwen Financial.
For example, earlier this year, Ocwen reached a $223 million settlement with the California Department of Business Oversight, ridding itself of the restrictions that hampered its mortgage business in California for more than two years.
Separate of that, over the last few months, Ocwen began settling with some of the 31 states that took regulatory actions against the nonbank earlier this year over alleged escrow issues, restricting the company’s ability to acquire new mortgage servicing rights and originate new loan...