Bank of America to SEC: Cryptocurrency Creating Pressure To Lower Prices

In an annual report to the SECBank, Bank of America complained that cryptocurrencies pose a threat to their business model by pressuring them to lower prices.

Justin Szilard
Por Justin Szilard
Damage to the front of the Bank of America building in downtown Oakland.

The second largest bank by total assets, Bank of America, detailed in an annual report to the SEC that cryptocurrencies pose a threat to their business model. The bank detailed credit, liquidity, market, geopolitical, and operational risk factors moving into the future, but the threat of cryptocurrencies was a surprising addition to the list.

Lea el artículo completo

So, You Thought Bank Of America Would Be Punished For Role In 2008 Crisis? Think Again

Big Banks unsurprisingly receive yet another layer of defense against responsibility for wrecking the global economy.

Claire Bernish
Por Claire Bernish
Damage to the front of the Bank of America

In a reversal of the smidgen of accountability forced on Bank of America for its role in the 2008 financial crisis, a U.S. appeals court threw out a jury’s verdict — and with it, the $1.27 billion fine BoA would have paid for mortgage fraud. Though the Department of Justice had alleged Countrywide Financial Corp., which was purchased by Bank of

Lea el artículo completo

Iceland Sentences 29th Banker To Prison, US Bankers Still Collecting Bonuses

Iceland’s economy was among those hit hardest by the 2008 financial crash, leading to unusually strict treatment of the bankers responsible.

MintPress News Desk
Por MintPress News Desk
Protesters Richard Hanzel, left, Brendan Hutt, and Richard Shavzin, right, of the Screen Actors Guild, dressed as wall street bankers, march from Goldman Sachs' office to a rally in Federal Plaza demanding Wall Street reform, Wednesday, April 28, 2010, in Chicago.

  REYKJAVIK, Iceland --- While the world economy struggles to recover from the 2008 financial crisis, most of the bankers who caused the collapse are still collecting massive salaries and have faced few, if any, consequences. Except in Iceland. In one of the countries hit hardest by the collapse, 29 bankers have now been

Lea el artículo completo

Justice Is Blind To Those Who Can’t Afford It

MintPress explores the two vastly different prosecutory worlds available to those with money, power and influence, and those without it, finding discrepancies between how the U.S. justice system handles corporate and street crimes.

Sean Nevins
Por Sean Nevins

WASHINGTON --- Two days after a Staten Island grand jury acquitted NYPD Officer Daniel Pantaleo in the death of Eric Garner, banking and financial services giant BNP Paribas S.A. (BNPP) was able to delay sentencing that would force it to pay $8.9 billion for pleading guilty to violating U.S. sanctions regulations. Nobody at the global banking

Lea el artículo completo

Bank Of America Settlement Only Proves Invincibility Of Wall Street

Critics say even the largest settlement to date shows that the big banks never really pay for their financial crimes.

Jon Queally
Por Jon Queally

It's not nothing, say critics, but the U.S. government's announced $16.65 billion settlement with Bank of America announced on Thursday—so far the largest associated with the Wall Street-fueled mortgage malpractice that led to the 2008 financial meltdown—is more stage-acting than justice and more business-as-usual than real punishment. Presented

Lea el artículo completo

Latest Bank Fine Shows Broken Regulatory System, Out-Of-Touch Industry

Bank of America is the latest major bank to get slammed with fines and orders to repay customers affected by unfair and deceptive practices and products.

Frederick Reese
Por Frederick Reese
Earns Bank Of America

In June 2013, Americans’ confidence in U.S. banks ticked upward for the first time since 2006, according to polling conducted by Gallup, to 26 percent approval. This represents a 5 percentage point increase from the same time in 2012, as well as the seventh consecutive year the majority of Americans have shown little or no confidence in the

Lea el artículo completo