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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
FeaturesU.S. Attorney General

U.S. Attorney General closes in on multiple banks

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Ben Geier
Ben Geier
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By
Ben Geier
Ben Geier
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May 13, 2014, 12:05 PM ET
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FORTUNE — The Obama administration may have more than two years left in office, but U.S. Attorney General Eric Holder is making his last push to take action against Wall Street firms, The Wall Street Journal reported Monday evening.

In the next few days, the Justice Department is expected to look for a guilty plea from Credit Suisse Group (CS), according to the Journal. Following that, the departments expects to finalize deals with Bank of America (BAC), Citigroup (C) and BNP Paribas (BNPQY).

The settlements relate to various infractions committed by the banks; for instance, Bank of America’s case relates to how it dealt with mortgage-backed securities going all the way back to the lead up to the 2008 credit crisis.

Citi’s situation also deals with mortgage-backed securities, while BNP Paribas is suspected of ignoring U.S. sanctions on other countries, including Iran.

“I am impatient,” Mr. Holder told the Journal. “We’re talking about conduct that contributed to the greatest financial disaster since the Great Depression. Not the sole cause, but contributed to it, so this is a priority, and that’s why I’m dedicating so much time to it.”

The story notes that Holder — a frequent target of criticism from the right who has served in his role since the beginning of the Obama administration — is expected to remain at his post through at least November’s midterm elections.

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