Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Too big to jail? Investigation says big bank not prosecuted for political reasons

Notify me of new replies via email
Mortgage Professional America | 11 Jul 2016, 12:55 PM Agree 0
An investigation by a House committee alleges that the government failed to prosecute a bank over money-laundering violations – despite clear recommendations to do so – out of worry about impacts to the financial system
  • SR | | 11 Jul 2016, 02:32 PM Agree 0
    Does this really surprise anyone?
  • colliecyn | | 11 Jul 2016, 03:08 PM Agree 0
    Surprise No. I was involved in a case where Chase bank had an employee who opened fraudulent accounts in the names of DBA Title companies
    which set up a Real Estate wire fraud scam. Funds were converted to Gold, the innocent Gold company was held guilty for selling gold by the Title companies. Brokers held responsible for not figuring out the scam, by the title companies. The employee wasn't named in the criminal case, nor did DA investigate him. They allowed the bank to do it.. The bank got out of the case from the start, civil and criminal. There is enough material here for a movie.
  • AF | | 11 Jul 2016, 08:14 PM Agree 0
    Would love to see HSBC's campaign contributions.
Post a reply