Deutsche Bank AG (DBKGn.DE) has agreed to pay $240 million (172.57 million pounds) to settle private U.S. antitrust litigation accusing it of conspiring with other banks to manipulate the Libor benchmark interest rate.
The preliminary settlement with the German bank was disclosed in filings on Tuesday with the U.S. District Court in Manhattan, and requires a judge’s approval.
Deutsche Bank is the third bank to resolve claims by so-called “over-the-counter” investors that transacted directly with banks on a panel to determine Libor.
Wells Fargo discriminated against black and Latino homebuyers in Sacramento, California, by pushing them into more expensive mortgages than white borrowers, according to a federal lawsuit that cites former employees.
The city of Sacramento accused Wells Fargo of a “long-standing pattern and practice” of illegal lending in minority and low-income communities that reduced home values, limited property tax revenue and drove up foreclosures.
“Wells Fargo’s discriminatory lending practices place vulnerable, underserved borrowers in loans they cannot afford,” said the laws...
ATLANTA — The effort to reduce “surprise’’ medical bills in Georgia took another key step last week with legislation passing a Senate health committee.
Senate Bill 359 is similar to but broader than a proposal that has already passed the House. The Senate version has provisions on payment for non-network medical services that the insurance industry opposes.
Sen. Chuck Hufstetler, a Rome Republican who’s the lead sponsor of 359, said the legislation aims to take the consumer out of the middle of the battle over payments for emergency care between insurers, doctors and...
In Michigan’s gubernatorial Democratic primary in August, voters will get to choose between two competing visions for health care.
Former executive director of the Detroit Health Department, Abdul El-Sayed, has a simple plan: cover every Michigander in one public program with single-payer health insurance. His opponent, former Senate Democratic Leader Gretchen Whitmer, does not support single payer and rather wants to continue to build on the Affordable Care Act.
Insurance giant Blue Cross Blue Shield Michigan isn’t leaving things to chance, and has decided to weigh...
The former parent of Washington Mutual Bank is merging with Nationstar Mortgage Holdings Inc. The transaction follows the sale of Nationstar's primary shareholder.
A news release Tuesday indicated that the parent of Nationstar Mortgage LLC has agreed to merge with Seattle-based WMIH Corp. The surviving entity will maintain the Nationstar brand and Dallas headquarters.
Nationstar shareholders will receive $1.2 billion in cash and $702 million in shares of WMIH -- the new symbol for the combined company's common shares to be traded on NASDAQ.
The American Heart Association and some Missouri lawmakers hope to prevent one of the state's largest insurance providers from denying emergency room claims on conditions that the providers consider minor ailments.
Anthem Blue Cross Blue Shield of Missouri announced last year it would evaluate emergency room visits after the fact and would no longer pay for some visits if patients turned out to have what it considered mild ailments.
The policy could be life-threatening if someone who experiences chest pain or shortness of breath decides not to go to the emergency roo...
The former chief operating officer and chief financial officer of a New York mortgage lender admitted in court this week that they conspired to misappropriate more than $8.9 million from warehouse lines of credit that were meant to fund mortgages.
According to the U.S. Attorney’s Office for the Eastern District of New York, Edward Sypher, Jr. and Matthew Voss, who are senior executives at Vanguard Funding, pleaded guilty to conspiring to commit wire and bank fraud in connection with the scheme.
Sypher and Voss were charged last year for their participation in the fra...
A major Georgia hospital group has sued Blue Cross Blue Shield of Georgia and its parent company, accusing it of “a national scheme” to save money at the expense of patient safety.
Last fall, the lawsuit states, Blue Cross Blue Shield of Georgia stopped paying when some of its outpatient policyholders undergo imaging, such as MRIs and CAT scans, in hospitals rather than in cheaper free-standing centers. And last summer, The Atlanta Journal-Constitution reported, the insurer sent letters to policyholders saying that it would no longer pay if they went to the emergenc...
In an eye-opening exclusive reported by CNN, it was revealed that former Aetna Medical Director, Dr. Jay Ken Iinuma, admitted under oath that “he never looked at patients’ records when deciding whether to approve or deny care.”This admission was made during a deposition in a lawsuit brought against Aetna by Gillen Washington, a 23 year old with common variable immune deficiency (CVID) who was denied coverage for an infusion of intravenous immunoglobulin (IVIG) four years ago.
California’s insurance commissioner, Dave Jones, is now l...
In the decade or so since the onset of the financial crisis, JPMorgan Chase has racked up 52 fines and settlements with various agencies of the federal government, totaling $28.8 billion.
It’s an impressive array of infractions: bribing Chinese government officials; violating economic sanctions against Iran, Cuba and Sudan; being complicit in the Bernie Madoff investment scandal; rigging interest rates; manipulating energy markets; alternately ripping off and bribing local governments; retaliating against a whistleblower; deceiving regulators about trading data; and...