Wells Fargo also gouged small businesses on credit-card fees

The hits keep on coming for the largest bank in America: in addition to stealing millions with fraudulent overdraft fees, creating 2,000,000 fraudulent accounts, blackballing whistleblowers, defrauding mortgage borrowers, and stealing tens of thousands of cars with fraudulent repos, they also grossly overcharged America's struggling small businesses for processing their credit-card fees, according to a new lawsuit. Read the rest

Lawmakers' support for bank bailouts was correlated with their individual investment in banks

In The Personal Wealth Interests of Politicians and the Stabilization of Financial Markets, researchers from the London Business School and Tillburg University demonstrate the likelihood of US members of Congress voting in favor of bank bailouts was correlated with those politicians' individual investments in banking stocks. Read the rest

How Audi cheated emissions tests: if (steering) then (pollute)

A report in BILD am Sonntag claims that the California Air Resources Board (CARB) has uncovered the secret test that Audis were programmed to perform to determine whether to pollute like crazy or to pretend that they were low-polluting, legally compliant vehicles. Read the rest

Judge OKs potentially lethal lawsuit against the world's largest banks

The biggest banks in the world have admitted to rigging LIBOR, a key interest rate that determines the value of trillions of dollars' worth of assets -- they paid billions in fines as a result. Read the rest

Goldman Sachs really only has to pay half of its settlement for world-destroying financial fraud

The headline figure of a $5B settlement that Goldman will have to pay after admitting to the toxic-asset fraud that led to the global economic collapse is just window-dressing: in the fine print are exemptions and giveaways that could cut that number in half. Read the rest

HSBC settlement approved: no criminal charges, 5 weeks' profit in fines, deferred bonuses for laundering billions for narco-terrorists

Remember when HSBC got caught laundering billions for Mexican narco-terror cartels? Remember how they offered to pay five weeks' profits in fines and to defer their executive bonuses to escape criminal charges?

The crime-fighting legal eagles at the Department of Justice approved the settlement last week. Remember, though, if you are suspected of laundering money or selling drugs, the DoJ will take your house away and put you in jail for the rest of your life. Nice to be "too big to jail." Still, deferring multimillion-dollar bonuses has gotta hurt, huh? Read the rest