2012 ;the Year of the Bent Banks

December 21st, 2012 by

Merry Xmas

2012; the year of the Bent Banks.

Compiled and researched by Ben Walsh; Reuters.


Additions by Ian Taplin;Whistle Blowers UK.


21 12 2012.

Bank of America:

the US Justice Department is seeking $1 billion in fines for troubled loans sold to Fannie and Freddie; MBIA’s lawsuit against Countrywide, which was disastrously acquired by BofA, rolls on; BofA is one of five banks participating in the $25 billion national mortgage settlement. (Price to book: 0.56, here and throughout via Yahoo Finance)

Bank of China:

the families of Israeli students killed in a 2008 terrorist attack are suing the BOC for $1 billion “intentionally and recklessly” handling money for terrorist groups.

Bank of New York Mellon:

a subsidiary paid $210 million to settle claims it advised clients to invest in Bernie Madoff’s ponzi scheme; the DOJ continues to investigate possible overcharges for currency trades that it says generated $1.5 billion in revenue. (Price to book: 0.86)


$450 million settlement in the Libor scandal; also fined by the FSA for mis-sold interest rate hedges. (Price to book: 0.72)


settled overdraft suit for $11.5 million. (Price to book: 0.83)


settled CDO lawsuit for $590 million; one of five banks participating in the $25 billion national mortgage settlement; paid $158 million to settle charges it “defaulted the government into insuring” risky mortgages. (Price to book: 0.62)

Credit Suisse:

sued by NY state for allegedly deceiving investor in the sale of MBS. (Price to book: 0.85)

Deutsche Bank:

settled a DOJ mortgage suit for $202 million; FHFA fraud case is ongoing. (Price to book: 0.56)

Goldman Sachs:

FHFA fraud case is ongoing; after a ruling by federal appeals court, a class action lawsuit over MBS will go forward. (Price to book: 0.91)

Crédit Agricole:

sued by CDO investors two times. (Price to book: 0.35)


settled money laundering charges for $1.9 billion; set aside $1 billion for future settlements related to mis-selling loan insurance and interest rate hedges in the UK; Libor settlement still to be reached. (Price to book: 1.17)


settled charges that it violated sanctions against Iran, Cuba, etc. for $619 million. (Price to book: 0.5)

JP Morgan Chase:

being sued by NY state for MBS issued by Bear Stearns; class action lawsuit and criminal probe over failed derivatives trades in its Chief Investment Office; one of five banks participating in the $25 billion national mortgage settlement. (Price to book:0.87)

Mitsubishi UFJ:

paid an $8.6 million fine for violating US sanctions on Iran, Sudan, Myanmar and Cuba. (Price to book: 0.54)

Morgan Stanley:

fined $5 million for improper investment banking influence over research during Facebook’s IPO. (Price to book: 0.63)

Royal Bank of Scotland:

$5.37 billion shareholder lawsuit related to 2008 rights issuance; set aside $650 million to cover claims it mis-sold payment protection products; also fined by the FSA for mis-sold interest rate hedges. (Price to book: 0.28)


fined by the FSA for mis-sold interest rate hedges. (Price to book: 0.77)

Société Générale:

rogue trader Jerome Kerviel loses appeal his appeal 3-year sentence for trades that generated $6.5 billion in losses. (Price to book: 0.45)

Standard Chartered:

$340 million fine paid to NY state department of financial services for allegedly hiding the identity of customers in transactions with Iran and drug cartels; $327 million paid to the Federal Reserve and US Treasury’s anti-money laundering unit.

State Street:

fined $5 million for lack of CDO disclosure. (Price to book: 1.09)


$1.5 billion Libor fine and two traders criminally charged; rogue trader responsible for $2.3 billion loss found guilty of false accounting. (Price to book: 1.12)

Wells Fargo:

Federal lawsuit over mortgage foreclosure practices ongoing; paid $175 million over mortgage bias claims; one of five banks participating in the $25 billion national mortgage settlement. (Price to book: 1.29)

And Lloyds Banking Group ;-

1.FSA investigation on Libor rigging.

2.FSA Investigation for Interest Rate Swaps mis-selling

3 £4bn fines and compensation on Payment Insurance mis-selling.

4.FSA enforcement action over unsuitable incentives in LTSB.

4.Under investigation for HBOS Reading Business lending  ;on allegations of predatory lending and apparent insolvency fraud.

5.Under FSA Investigation on allegations of mis-selling packaged current accounts.

6.Under FSA Investigation for allegedly mis-selling Life Products.

7.Under FSA Investigation for allegedly risking Client Data security .


Sign Up To Our Newsletter

Enter your Email Address and receive the latest posts fresh from the oven!

Ian Taplin

Ian Taplin, 53 ,a British Citizen- is Whistle Blowing on UKs largest Bank, Lloyds Bank .

Ian Taplin worked at Lloyds Bank from 2005-2010 and was then unlawfully fired for insisting his Complaints alleging dishonest actions by Senior Directors were properly dealt with.

He believes he has substantial and robust evidence of fraud and corruption -being tolerated by Senior Directors of Lloyds Bank.

These Senior Directors obstructed Ian Taplins Formal Complaints and then proceeded to intimidate and bully Mr Taplin who refused to withdraw his Complaints.

Ian Taplin will be submitting Formal Complaints to the UK Regulator and the UK House of Commons in 2012. He plans to lawfully publish these Formal Complaints on this site.

He has been fully supported by Theresa May MP, the Home Secretary and Senior Government Minister.

Ian Taplin is the Lloyds Bank Whistle Blower. Check out his background on;

http://www.dontbankonlloydsethics.com/about/ He can be contacted at iantaplin@hotmail.co.uk