A Senate panel found last year that Goldman Sachs marketed four sets of complex mortgage securities to banks and other investors, but failed to tell clients the securities were very risky. The Justice Department said the "burden of proof to bring a criminal case" could not be met.
The new rules would help eliminate surprises and make the mortgage loan process easier to understand, the Consumer Financial Protection Bureau says. It's also moving to give homeowners more protection when mortgage companies try to foreclose.
The London-based Standard Chartered Bank faces charges of laundering Iranian funds and violating U.S. sanctions against Tehran. The U.S. has laws in place regulating foreign assets, but how effective are they?
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