justice department

Midday Market Minute: BP, Gulf Coast Oil Spillers Face Day in Court

Nearly three years after a deepwater well rupture killed 11 men, sank a rig and spewed 4 million barrels of oil into the Gulf of Mexico, BP and the other companies involved are scheduled to face their judge in court. The trial is set to start Monday in New Orleans before a federal judge, but a settlement is possible.

BP May Face $21 Billion in Fines Over 2010 Gulf of Mexico Oil Spill

The Justice Department is charging BP with gross negligence for its reckless actions related to the Deepwater Horizon oil spill in the Gulf of Mexico. If the charges stick, BP could face fines up to $21 billion. Can the company survive such a financial and PR nightmare?

Did Capital One Target Deployed Soldiers for Foreclosure?

Legally, banks are forbidden to foreclose on the homes of our nation's deployed servicemembers, and they're supposed to cut them a break on credit card interest, too. Seems Capital One has been breaking those rules -- but it may not be a scandal.

3 New Ways to Get Real Help On Your Underwater Mortgage

Good news: The housing market is looking up. Bad news: Nearly 11 million mortgages are still underwater. More good news: Real help for those homeowners is finally available. More bad news: Getting that help can be baffling. Extra good news: Jean Chatzky's here to help.

NCAA Rules Trap Many College Athletes in Poverty

College football and basketball players are getting played instead of getting paid: Though they bring in the big bucks for their institutions of higher learning, more than 8 out of 10 of those FBS student-athletes are living below the poverty line, according to a new study.

Feds File Suit to Block $39 Billion AT&T, T-Mobile Deal

AT&T vowed Wednesday to fight a Justice Department lawsuit that seeks to block its $39 billion deal to buy T-Mobile USA. The feds are concerned that the acquisition of the No. 4 wireless carrier in the country by No. 2 AT&T would reduce competition and raise consumer prices.

How Washington Helped Birth a Billion Dollar Phone Scam

Almost 30 years ago, the government's breakup of AT&T changed how telecom billed customers, and scammers discovered a loophole that let them slip unauthorized fees onto consumers' monthly phone bills. Since then, "cramming" has grown into a multibillion dollar a year con game.

Nasdaq, ICE Drop $11 Billion Bid for NYSE Euronext

Nasdaq and IntercontinentalExchange are withdrawing their $11 billion bid for the New York Stock Exchange after recognizing that it wouldn't receive regulatory approval. The decision leaves the path open for NYSE Euronext to merge with the German exchange operator Deutsche Boerse.

What If AT&T's T-Mobile Buyout Gets Shot Down?

Regulators have begun to take a long, hard look at whether the AT&T buyout of T-Mobile would create a quasi-monopoly in the American cellular carrier industry. If those antitrust concerns sink the deal, AT&T could be in real trouble, because cellular is its only clear hope for growth.

Blockbuster Should Liquidate Instead of Reorganize

Blockbuster should liquidate instead of reorganize under new ownership because the video-rental store chain lacks the necessary cash to continue operations after a proposed sale is completed, Home Media Magazine reported, citing a division of the U.S. Justice Department.

Why Countrywide's Fraudster-in-Chief Isn't Going to Prison

Angelo Mozilo, the former head of Countrywide Financial, isn't going to jail. In fact, he won't even face a trial. Wondering how the most convictable CEO among the titans who brought down the financial system is getting off so easy? The answer lies in the revolving door between Wall Street and its "regulators."

Online Buyer Beware: Cyber-Fraud Is Getting Slicker

A growing number of Americans are shopping online for the holidays -- leaving themselves vulnerable to increasingly sophisticated web fraud. The Justice Department busted 82 websites allegedly selling counterfeit and pirated goods on Cyber Monday, but more criminals are still out there.