This week, JPMorgan Chase agreed to a $13 billion settlement with the Justice Department over the sale of faulty mortgage securities that led to the financial crisis. It's the largest settlement with a single company in U.S. history.
From that settlement, $4 billion must go to help the millions of families who saw the values of their homes plummet and who still struggle to keep up with mortgage payments.
In Afghanistan, a grand assembly of some 2,500 tribal elders, politicians and civil society elites are meeting to decide whether to approve a security agreement with the United States. Approval by the grand assembly, called a loya jirga, would be in addition to the OK of the Afghan government. But as U.S. Secretary of State John Kerry has noted, the agreement can't go forward without the backing of the Afghan people. The security agreement would allow as many as 9,000 U.S. troops to remain in Afghanistan after the current NATO mission ends next year.
Former chemist Annie Dookhan began serving a 3-to-5 year sentence in a Massachusetts prison on Friday after pleading guilty to falsifying tests of drug evidence and helping to create one of the nation's largest drug lab scandals.
Massachusetts Attorney General Martha Coakley says the state is taking steps to improve forensic testing:
"It is certainly lessons learned," she says. "We hope that we've made changes in the system that will mean this unique case will not happen again in Massachusetts."
Public transit vehicles may be the key to China's success in the U.S. auto market. Chinese company BYD, based in Shenzhen, is manufacturing electric buses. It's an appealing option for a place like California, where emission standards are strict.
At BYD's North American headquarters in Los Angeles, one of the 40-foot electric K9 buses sits on display. BYD Fleet Sales Manager James Holtz sits in the driver's seat and pushes the power button on the dashboard.
Originally published on Sat November 23, 2013 2:36 pm
Just a day after his agency said it was reviewing "outdated and restrictive rules" banning the use of cellphones during flights, the chairman of the Federal Communications Commission is tempering his statement.
"We understand that many passengers would prefer that voice calls not be made on airplanes," Tom Wheeler, who was confirmed for the job in late October, said in a statement on Friday. "I feel that way myself."
Since former National Security Agency contractor Edward Snowden leaked classified information about the agency's intelligence-gathering activities last summer, the NSA has been bombarded with requests for its records.
USA Today this week said the agency received more than 2,500 requests for records from July to September, compared to about 250 from January to March.
Competition and compassion meet on the field in Springfield, Ill., Saturday, when two central Illinois high school football teams face off for a spot in the state championship. One team is a perennial powerhouse, but the other is from a town that was all but leveled by a tornado.
Last week, linebacker Kevin Scott and the rest of the Washington Community High School Panthers were celebrating. They'd just made school history with a 12-0 record, capped off with a Saturday win that sent them to the semi-finals.
The state of Louisiana is paying tribute Friday to the Rev. T.J. Jemison, a strong and steady voice against unequal treatment for blacks in the Jim Crow South.
Jemison's body lay in repose at the Louisiana State Capitol in Baton Rouge, where Sen. Mary Landrieu, D-La., said he will be remembered as one of the greats of the civil rights movement.
"He had such a heart and courage for justice," Landrieu said. "There are very few people in our state that will rise to that level of influence, and it is very appropriate that our Capitol was opened up for him today."
State and federal regulators have hailed Tuesday's $13 billion settlement with JPMorgan Chase & Co. over faulty mortgage assets it sold in the years leading up to the financial crisis as a big victory for the judicial system.
But like other big settlements to emerge from the financial crisis, the deal leaves unclear just what the bank did wrong.