Tag: Bank of America

Trump financial regulator quietly shelved discrimination probes into Bank of America and other lenders

AlterNet logoIn the spring of 2018, bank regulators trained to spot discriminatory lending detected something alarming at Bank of America.

The bank was offering fewer loans to minority homebuyers in Philadelphia than to white people in a way that troubled examiners from the Office of the Comptroller of the Currency, according to two people directly involved in the probe and internal documents reviewed by ProPublica and The Capitol Forum.

The officials suspected the second-largest bank in the United States was “redlining,” or deliberately turning its back on minority homebuyers, the people said. Continue reading.

Banks just handed over documents that may be related to Trump’s financial ties to Russia

The companies complying with subpoenas for the documents include Deutsche Bank, which has financed the Trump Organization.

A number of major Wall Street banks have handed over thousands of documents to congressional committees pertaining to Russian figures who may have had links to President Donald Trump, his family, or the the Trump Organization, the Wall Street Journal reported.

The firms, including Bank of America, Citigroup, and JPMorgan Chase, passed along the documents subpoenaed by investigators with both the House Finance Committee and House Intelligence Committee. The banks are complying with subpoenas sent to them in April.

The specific details of the documents remain scarce, as do the identities of the Russian figures or entities specifically mentioned in the material.

View the complete August 8 article by Casey Michael on the ThinkProgress website here.