Know when to Hold em: AG nets $25B from Wall St.

Category: Eric Holder

Wall Street has 25 billion reasons to want to see Eric Holder go.

The Attorney Generals Justice Department collected nearly $25 billion in fines and settlements in 2014 its biggest haul ever.

And the lions share of the loot came from the biggest US banks, Justice said in a statement on Wednesday.

The total for the year ended Sept. 30 includes some monies from the $17 billion levied on Bank of America, $13 billion from JPMorgan Chase, and $7 billion from Citigroup all for their roles in the 2008 financial crisis.

The largest single source of collections during 2014 came from civil settlements to resolve financial fraud claims, including record penalties paid by JPMorgan and Citigroup, Holder said in a statement.

These settlements also provide for billions of dollars of relief to struggling homeowners.

The amount collected is about three times what the department brought in for 2013, Holder added.

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Know when to Hold em: AG nets $25B from Wall St.

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November 20th, 2014
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