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US Banks Near $10 Billion Settlement on Foreclosure Abuse

Posted January 7th, 2013 at 10:00 am (UTC-5)
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Major U.S. banks are nearing a $10 billion settlement to resolve claims that they abused financially troubled homeowners as they sought to foreclose on their home purchase loans at the height of the country’s financial downturn. As millions of U.S. homeowners lost their jobs in 2009 and 2010, they often fell behind on their monthly […]

Tags: , , , Posted in Economy

BP Finalizes Settlement Deal for Gulf Oil Spill

Posted April 18th, 2012 at 11:45 am (UTC-5)
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Oil giant BP says it has finalized a multi-billion dollar agreement with fishermen and other private plaintiffs who sued over the 2010 Gulf of Mexico oil spill. The London-based company released a statement Wednesday saying it still estimates the cost of the settlement will be around $7.8 billion. The money will come out of a […]

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Judge Awards $17.8 Million to Family for Military Jet Crash

Posted December 28th, 2011 at 6:40 pm (UTC-5)
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A United States federal judge has ordered the U.S. government to pay $17.8 million to a family who lost four members when a military jet malfunctioned and smashed into their home in 2008. The victims were 36-year-old Youngmi Lee Yoon, her fifteen-month-old daughter Grace, her two month old daughter Rachel, and her 59-year-old mother Seokim […]

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Bank of America in Settlement Over Countrywide Loans

Posted December 21st, 2011 at 6:35 pm (UTC-5)
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The U.S. Justice Department says Bank of America has agreed to pay $335 million to resolve allegations that its Countrywide Financial unit discriminated against qualified African-American and Hispanic borrowers on home loans. Officials say Countrywide charged over 200,000 African-American and Hispanic borrowers higher fees and interest rates than white borrowers with a similar credit profile. […]

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US Firm Pays $4 Billion to BP for Gulf Oil Spill

Posted October 17th, 2011 at 6:35 pm (UTC-5)
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A U.S. oil company, Anadarko Petroleum, has agreed to pay $4 billion to BP to cover the costs related to last year’s devastating oil spill in the Gulf of Mexico. The explosion of the Deepwater Horizon oil rig on April 2010 killed 11 workers and sent 5 million barrels of oil pouring into the waters […]

Tags: , , , , , Posted in Economy, US

US Firm Pays $4 Billion in Oil Spill Damages

Posted October 17th, 2011 at 11:25 am (UTC-5)
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A U.S. oil company that owned a 25 percent stake in the Gulf of Mexico oil well that exploded last year has agreed to pay $4 billion to victims of the worst American oil spill. Anadarko Petroleum had been feuding with BP, the oil well’s operator, over who was responsible for the explosion that killed […]

Tags: , , , Posted in Economy, Europe, US

Germany, Switzerland Reach Agreement in Tax Dispute

Posted August 10th, 2011 at 11:55 am (UTC-5)
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Germany has announced an agreement with Switzerland to resolve a long-running dispute over tax evasion. The deal means that Swiss banks will pay the German government $2.7 billion to help cover the tax debt of Germans who have hidden their money in Swiss bank accounts. The deal also gives Germans with previously undisclosed Swiss accounts […]

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