Melvin Watt, US Federal Housing Finance Agency director, under investigation for sexual harassment of employee
Federal Housing Finance Agency director Melvin Watt is being investigated for the sexual harassment of an employee in US
Goldman Sachs has agreed to a settlement worth $1.2 billion to resolve claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them.
JPMorgan still faces heavy financial burdens. The bank has set aside $23 billion to cover legal costs - and it may need it all.<br /><br />
The US Justice Department is seeking $1 billion from Bank of America, alleging the bank committed fraud by selling defective mortgages from a programme it says was known within the bank as "the Hustle."
US homeowners who owe more than their properties are worth got new help on Monday with the government's expansion of a refinancing program in a step that could help up to 1 million borrowers.
According to a report in the New York Times, the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, is expected to file suit against Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among other banks.