FinancialAccountability

DOJ vs. Wall Street: A Looming Showdown Over Financial Accountability

2 months ago

The Department of Justice (DOJ) is gearing up for a potential confrontation with major Wall Street institutions as it ramps up its enforcement efforts to combat financial misconduct. With federal prosecutors actively pursuing cases against banks, the climate of accountability within the financial sector is becoming increasingly charged. This unyielding approach indicates a shift in strategy aimed at holding corporations to a higher standard of ethical behavior, particularly in the aftermath of the 2008 financial crisis, which left many questioning the integrity of financial practices.

Portugal Launches Investigation into Large Cash Deposit Connected to Ex-Novo Banco Official

3 months ago

In a significant development, Portuguese authorities have initiated an investigation into a former official of Novo Banco regarding a substantial cash deposit at one of the country's major banks. This investigation raises critical questions about financial accountability and regulatory oversight within Portugal's banking sector.

Former Citigroup Bankers Demand Board to Reclaim Millions in Bonuses Amid Controversy

5 months ago

In a significant move, several former executives of Citigroup have called for the financial institution to recuperate a substantial sum in bonuses, estimating the total at around $100 million. This unprecedented push comes in light of allegations surrounding the responsibility of these bonuses tied to high-risk decisions that could have detrimental effects on the bank's long-term stability.