Items Tagged with 'TARP'

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Former Cantor Fitzgerald mortgage bond trader charged with securities fraud

David Demos accused of defrauding firm that managed TARP funds
A former mortgage bond trader at Cantor Fitzgerald stands accused of committing securities fraud by allegedly overcharging customers for residential mortgage-backed securities, a collection of federal agencies announced Friday. Among the victims of this alleged scheme are asset managers and firms affiliated with or subsidiaries of recipients of funds from the Troubled Asset Relief Program, the government said.
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Failed bank CEO gets 14 months for trying to scam $13M in TARP funds

NOVA Bank's Brian Hartline faked investments in attempt to get bailout
The former president and chief executive officer of a failed bank will spend 14 months in prison after being convicted of faking millions of dollars in investments in the bank as part of a scheme to defraud the federal government of more than $13 million from the Troubled Asset Relief Program.
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8 years later, a look back on TARP

Happy anniversary
The anniversary of the Consumer Financial Protection Bureau’s Know Before You Owe rule isn’t the only historical mortgage moment that happened on Oct. 3. Monday also marked the eighth anniversary of the Emergency Economic Stabilization Act of 2008 becoming law, putting the Troubled Asset Relief Program into effect. Here's how the program performed for the past eight years.
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Failed bank's CEO, chairman convicted of trying to scam $13M in TARP funds

NOVA Bank executives faked private investments in attempt to save failing bank
The former CEO of a failed bank and the former chairman of the bank’s board of governors conspired to fake millions of dollars of investments in the bank as part of a scheme to defraud the federal government of more than $13 million from the Troubled Asset Relief Program.
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Treasury committing $1 billion more to fight blight, help struggling borrowers

Announces next round of Hardest Hit Fund allocations
In February, the Department of the Treasury announced that it planned to boost the Hardest Hit Fund by as much as $2 billion. The first round of funding saw the Treasury Department allocate $1 billion. And Wednesday, the Treasury announced the second round of funding, with $1 billion more now set aside to fight blight and help struggling homeowners.
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