Bank of America is in trouble again for its mortgage practices during the financial crisis. Yesterday, federal prosecutors in New York accused the company of selling defective mortgages to Fannie Mae and Freddie Mac, the two home-mortgage finance companies controlled by the government.
The Wall Street bank Goldman Sachs has faced intense scrutiny for its alleged involvement in the types of dodgy mortgage deals that led to the 2008 financial crisis. But after an extensive investigation, the Justice Department has announced that won't prosecute Goldman Sachs or its employees for alleged wrongdoing.
Yesterday, New York's top banking regulator accused the British bank Standard Chartered of secretly helping the Iranian government to launder billions of dollars. Now other authorities investigating the bank are questioning just how expansive Standard Chartered's mistakes were.