Suzanne's Feed
Nov 5, 2015

Wells Fargo to pay $81.6 mln to bankrupt U.S. homeowners -DOJ

Nov 5 (Reuters) – Wells Fargo & Co will pay $81.6
million to homeowners for denying them a chance to challenge
mortgage payment increases imposed during their bankruptcy
proceedings, the U.S. Justice Department said on Thursday.

Wells violated a 2011 U.S. bankruptcy law by failing to send
a type of legal notice about homeowners’ mortgage payment
increases to bankruptcy courts. The law requires the notice to
include disclosures to ensure that fees and charges by banks to
homeowners in bankruptcy proceedings are accurate, the Justice
Department said.

Nov 5, 2015

Wells Fargo to pay $81.6 mln to bankrupt U.S. homeowners -DOJ

Nov 5 (Reuters) – Wells Fargo & Co will pay $81.6
million to homeowners for denying them a chance to challenge
mortgage payment increases imposed during their bankruptcy
proceedings, the U.S. Justice Department said on Thursday.

Wells violated a 2011 U.S. bankruptcy law by failing to send
a type of legal notice about homeowners’ mortgage payment
increases to bankruptcy courts. The law requires the notice to
include disclosures to ensure that fees and charges by banks to
homeowners in bankruptcy proceedings are accurate, the Justice
Department said.

Nov 4, 2015

Deutsche Bank to pay $258 million to settle U.S. sanctions case – NYDFS

By Suzanne Barlyn

(Reuters) – Deutsche Bank AG will pay a $258 million (£168 million) penalty to settle charges that it did business on behalf of entities in U.S.-sanctioned countries like Iran and Syria, the New York Department of Financial Services (NYDFS) and Federal Reserve said on Wednesday.

Germany’s largest bank conducted $10.9 billion in clearing transactions for the customers from 1999 to 2006, using “non-transparent methods and practices” to shield them from scrutiny, the New York State regulator said.

Nov 4, 2015

Deutsche Bank to pay $258 mln to settle U.S. sanctions violations -NYDFS

Nov 4 (Reuters) – Deutsche Bank AG will pay a $258 million
penalty to settle charges that it did business on behalf of
entities in U.S.-sanctioned countries like Iran and Syria, the
New York Department of Financial Services (NYDFS) and Federal
Reserve said on Wednesday.

Germany’s largest bank conducted $10.9 billion in clearing
transactions for the customers from 1999 to 2006, using
“non-transparent methods and practices” to shield them from
scrutiny, the New York State regulator said.

Nov 3, 2015

Fenway Partners, four executives, to pay $10.2 million for disclosure lapses: SEC

By Suzanne Barlyn

(Reuters) – New York-based Fenway Partners LLC and four executives will pay a total of more than $10.2 million to settle charges that they failed to tell investors about payments to employees by one of its private equity fund companies, U.S. securities regulators said on Tuesday.

The private equity firm and the executives, including principals Peter Lamm and William Gregory Smart, were not “fully forthcoming” to a client and investors about the conflict of interest, which involved more than $20 million in payments, the U.S. Securities and Exchange Commission said.

Nov 3, 2015

Fenway Partners, 4 execs, to pay $10.2m for disclosure lapses-SEC

Nov 3 (Reuters) – New York-based Fenway Partners LLC and
four executives will pay a total of more than $10.2 million to
settle charges that they failed to tell investors about payments
to employees by one of its private equity fund companies, U.S.
securities regulators said on Tuesday.

The private equity firm and the executives, including
principals Peter Lamm and William Gregory Smart, were not “fully
forthcoming” to a client and investors about the conflict of
interest, which involved more than $20 million in payments, the
U.S. Securities and Exchange Commission said.

Oct 30, 2015

Hospitals to pay $250 million for cardiac device coverage violations: DOJ

By Suzanne Barlyn

(Reuters) – Hundreds of U.S. hospitals will pay a total of more than $250 million stemming from allegations that they implanted cardiac devices in Medicare patients in violation of coverage requirements, the U.S. Justice Department said on Friday.

The 457 hospitals are from 43 states, the Justice Department said.

The settlement involves a type of device that detects and treats extremely fast, life-threatening heart rhythms, called fibrillations, by delivering a shock to the heart, the Justice Department said.

Oct 30, 2015

Hospitals to pay $250m for cardiac device coverage violations -DOJ

Oct 30 (Reuters) – Hundreds of U.S. hospitals will pay a
total of more than $250 million stemming from allegations that
they implanted cardiac devices in Medicare patients in violation
of coverage requirements, the U.S. Justice Department said on
Friday.

The 457 hospitals are from 43 states, the Justice Department
said.

The settlement involves a type of device that detects and
treats extremely fast, life-threatening heart rhythms, called
fibrillations, by delivering a shock to the heart, the Justice
Department said.

Oct 29, 2015

Deutsche Bank nears settlement of at least $200 mln with Fed, NYDFS -source

Oct 29 (Reuters) – Deutsche Bank AG is close to a
settlement of at least $200 million with New York State’s
financial regulator and the Federal Reserve over a probe into
U.S. sanctions violations, a person familiar with the matter
said.

The deal will be finalized within the coming weeks and
possibly as early as next week, the person said.

Oct 28, 2015

Goldman to pay $50 mln for not supervising banker in NY Fed case-NYDFS

By Suzanne Barlyn

(Reuters) – Goldman Sachs Group Inc will pay a $50 million
fine for a banker who took confidential documents from the
Federal Reserve Bank of New York and shared them with a client,
the New York Department of Financial Services said on Wednesday.

As part of the settlement, Goldman took the rare step of
admitting guilt in the case, conceding it had failed to properly
supervise the now former banker, Rohit Bansal. U.S. federal
prosecutors are preparing to unveil criminal charges against
Bansal and former Federal Reserve employee Jason Gross, a person
familiar with the matter said on Monday.