US Bank settles federal mortgage probe for $200M

Jun 30, 2014 Full story: NewsOK.com 12

Minneapolis-based U.S. Bank National Association has agreed to pay $200 million to settle allegations that it failed to check on the credit-worthiness of thousands of applicants when it issued government-insured mortgage loans between 2006 and 2011.

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Tru Dat

Saint Paul, MN

#1 Jul 1, 2014
And, had they denied unqualified applicants they would have been accused of red-lining and sued by the Democrats who created this problem in the first place. They always find a way to pass the buck!

Since: Jun 14

Location hidden

#2 Jul 11, 2014
I don't think it is a good news or bad for some Americans.
Karl Marx

Englewood, NJ

#3 Jul 15, 2014
you can keep your Marxist ways, but it's only just a phase........

Karl Marx

Englewood, NJ

#4 Jul 15, 2014
had enough of capitalism?

Bellweather

Minneapolis, MN

#5 Jul 16, 2014
Tru Dat wrote:
And, had they denied unqualified applicants they would have been accused of red-lining and sued by the Democrats who created this problem in the first place. They always find a way to pass the buck!
Correct, and the $200,000,000 fine will go to the Obama Government to reduce the deficit, just like the new fees on the flying public.

It's all redistribution of wealth from those who have wealth to those who refuse to work and sit on their fat arses on welfare. It's the Liberal way!.

Since: Sep 11

Rogers, MN

#6 Jul 16, 2014
Funny, in 2008 US bank received a $6.6 billion bailout from the government. How long do you suppose it took them to earn $200 million of interest set aside to pay for this? Corporate welfare and crony capitalism seem to be the trademarks of this administration. And they are quite proud of it.

http://projects.propublica.org/bailout/entiti...
redeemer

Saint Paul, MN

#7 Jul 16, 2014
cantmakeitup wrote:
Funny, in 2008 US bank received a $6.6 billion bailout from the government. How long do you suppose it took them to earn $200 million of interest set aside to pay for this? Corporate welfare and crony capitalism seem to be the trademarks of this administration. And they are quite proud of it.
http://projects.propublica.org/bailout/entiti...
Come on now Canmakeitup,you that Bush started Tarp and Obama wasn't in office in 2008,but he do share some blame also you must not have heard that Ciigroup has to pay back 7 Billion dollars back to victims,homeowner's and taxpayer's for shady mortages deals thanks to Obama/Holder and their DOJ,also Bagger Obama has also beetch slapped JP Morgan with 13 Billion dollar find for cheat the public, thanks once again to Attorney General Eric Holder
Yes We Can!

www.buzzflash.com
Bellweather

Minneapolis, MN

#8 Jul 16, 2014
redeemer wrote:
<quoted text>
Come on now Canmakeitup,you that Bush started Tarp and Obama wasn't in office in 2008,but he do share some blame also you must not have heard that Ciigroup has to pay back 7 Billion dollars back to victims,homeowner's and taxpayer's for shady mortages deals thanks to Obama/Holder and their DOJ,also Bagger Obama has also beetch slapped JP Morgan with 13 Billion dollar find for cheat the public, thanks once again to Attorney General Eric Holder
Yes We Can!
www.buzzflash.com
So redeemer, when ya leaving for Mexico?

Since: Sep 11

Rogers, MN

#9 Jul 16, 2014
redeemer wrote:
<quoted text>
Come on now Canmakeitup,you that Bush started Tarp and Obama wasn't in office in 2008,but he do share some blame also you must not have heard that Ciigroup has to pay back 7 Billion dollars back to victims,homeowner's and taxpayer's for shady mortages deals thanks to Obama/Holder and their DOJ,also Bagger Obama has also beetch slapped JP Morgan with 13 Billion dollar find for cheat the public, thanks once again to Attorney General Eric Holder
Yes We Can!
www.buzzflash.com
Citigroup received $45 billion
http://projects.propublica.org/bailout/entiti...

JP Morgan received $25 billion
http://projects.propublica.org/bailout/list/c...

How many more banks who received bail out money will be "prosecuted" for their misdeeds. Knowing full well that they have enough federal money in their hands for a long enough time to score enough interest to pay these phony fines?
Let's see, your bank is already rolling in profits. The feds give you $25 billion to help you "when you are down". What do you do with it? Sock it away in some place where it can earn some kind of interest until it's time to pay it back. Then pay back the principal, all the while knowing that you will use that profit to pay the fines the government pretends to slap on you for "misbehaving". Everyone comes out looking wonderful and your bank has even more money to buy more politicians with. Or Attorney Generals, or presidents.

25,000,000,000 x .015 = 375,000,000 That's at the 1.5% rate you might get from a standard savings account.
redeemer

Saint Paul, MN

#10 Jul 16, 2014
Bellweather wrote:
<quoted text>
So redeemer, when ya leaving for Mexico?
Stay on topic you drunk piece of cracker trash,this topic is light years pass your thinking capacity fool. hahaha
redeemer

Saint Paul, MN

#11 Jul 16, 2014
cantmakeitup wrote:
<quoted text>
Citigroup received $45 billion
http://projects.propublica.org/bailout/entiti...
JP Morgan received $25 billion
http://projects.propublica.org/bailout/list/c...
How many more banks who received bail out money will be "prosecuted" for their misdeeds. Knowing full well that they have enough federal money in their hands for a long enough time to score enough interest to pay these phony fines?
Let's see, your bank is already rolling in profits. The feds give you $25 billion to help you "when you are down". What do you do with it? Sock it away in some place where it can earn some kind of interest until it's time to pay it back. Then pay back the principal, all the while knowing that you will use that profit to pay the fines the government pretends to slap on you for "misbehaving". Everyone comes out looking wonderful and your bank has even more money to buy more politicians with. Or Attorney Generals, or presidents.
25,000,000,000 x .015 = 375,000,000 That's at the 1.5% rate you might get from a standard savings account.
You already forgotten about U.S Bank already? but to answer your question all of the banks that have been caught doing wrong doing? and not all banks are guity or have been accuse of ia financial crimes.

Since: Sep 11

Rogers, MN

#12 Jul 16, 2014
redeemer wrote:
<quoted text> You already forgotten about U.S Bank already? but to answer your question all of the banks that have been caught doing wrong doing? and not all banks are guity or have been accuse of ia financial crimes.
I think you missed the point. The banks that Holder is going after are all recipients of bailout money. You know, corporate welfare, payola. Follow the money and you will very likely find that these banking institutions and/or their upper management and boards of directory contributed to both democrat and republican campaign funds. Remember red, not all of the 1%'rs are republicans. In fact, most of them have no party affiliation at all.

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