Eric Lipkin, former payroll manager for Bernard L Madoff Investment Securities LLC, pleaded guilty to six criminal counts in the U.S. District Court for the Southern District of New York … Continue reading “Madoff Payroll Manager Pleads Guilty to Charges”
Category: Financial
Bank of America Settles Overdraft Fee Case for $410M
Bank of America has agreed to pay a $410 million settlement in a federal lawsuit that claimed the bank charged excessive overdraft fees. The issue was resolved after plaintiffs in … Continue reading “Bank of America Settles Overdraft Fee Case for $410M”
Banks Increasing Fees for Customers
The Credit Card Act of 2009 prevents banks from being able to charge accounts an inactivity fee, certain overdraft and excessive late charges. It appears that banks have responded by … Continue reading “Banks Increasing Fees for Customers”
Federal Judge Refuses to Dismiss AIG Fraud Case
A judge for the US District Court for the Southern District of New York has decided that a securities fraud class-action lawsuit against American International Group (AIG) can move forward. The … Continue reading “Federal Judge Refuses to Dismiss AIG Fraud Case”
Court Rejects SEC and Bank of America Settlement
Federal district Judge Jed Rakoff rejected a $33 million deal to settle claims that Bank of America misled investors about an agreement to pay Merrill Lynch & Co. executives billions … Continue reading “Court Rejects SEC and Bank of America Settlement”