As we wrote earlier this month, Verizon Wireless’ proposed purchase of billions of dollars worth of wireless spectrum from Comcast, Time Warner Cable and other cable companies that aren’t using it anyway, could result in fewer cable and Internet provider options for American consumers. Well, it looks like the Dept. of Justice was listening to at least some of the concerned voices, as it has given its approval to the deal — but not without some significant changes. [More]
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DOJ Tweaks Verizon Deal To Buy Spectrum From Cable Companies So Consumers Still Have A Few Choices
By 8.16.12
Wells Fargo Receives $175 Million Slap On Wrist Over Discriminatory Loan Allegations
By 7.12.12
Three years after it began looking into allegations that Wells Fargo had systematically discriminated against minority loan applicants by pushing them into risky, high-cost subprime loans — regardless of their qualifications — the U.S. Dept. of Justice has come to a $175 million settlement with the bank. [More]
Judge Cites Steve Jobs' Own Words In Refusing Dismissal Of E-Book Suit
By 5.16.12
Apple co-founder Steve Jobs’ words came back to haunt the electronics company today. Its attempt to have a judge dismiss charges of e-book price-fixing were refused, in part because of things Jobs said during his time with Apple. [More]
Wells Fargo Prepping For Possible Racial Discrimination Lawsuit
By 5.8.12
Though it hasn’t been formally accused of anything by the government, Wells Fargo let it be known in a filing with the Securities & Exchange Commission that the Justice Dept. may soon be alleging the bank was involved in discriminating against minority mortgage applicants. [More]
Apple Willing To Stand Trial On E-Book Price-Fixing Allegations
By 4.18.12
Even though three of the publishers accused of colluding with Apple to fix prices on e-books have already settled with the Dept. of Justice, the electronics giant continues to assert its innocence and wants the opportunity to answer the charges in court. [More]
DOJ Agrees On E-Book Price-Fixing Settlement With Three Publishers
By 4.11.12
Only hours after filing suit against Apple and six book publishers over allegations of e-book price-fixing, the Justice Dept. said has agreed on settlement terms with three of those publishing companies — HarperCollins, Simon & Schuster, and Hachette. [More]
DOJ Reportedly Close To Deal That Would Lower E-Book Prices
By 4.5.12
Ever since Apple got into the e-book business, publishers have been determining their own prices for titles, meaning that e-books, in spite of having minimal overhead costs, are often sold for higher prices than their print counterparts. But it looks like the Justice Dept. antitrust investigation into this so-called “agency pricing” model is nearing an end — and may result in more affordable e-books for everyone. [More]
DOJ: AT&T Billed U.S. Gov't For Around $15 Million In Fraudulent Calls
By 3.22.12
The Dept. of Justice has filed a lawsuit against AT&T, alleging that the telecom giant billed the U.S. government for millions of dollars related to phone services intended to be used by hearing-impaired callers. [More]
How Much Have The Big Banks Been Penalized Over Mortgage Mess And Where Is All That Cash Going?
By 3.6.12
The last few years have seen numerous settlements between the nation’s biggest mortgage lenders and various federal and state authorities. And while we hear numbers like “a total of $25 billion,” exactly which banks are responsible for the biggest chunks of these settlements? [More]
DOJ Reportedly Prepping Criminal Charges Against BP
By 12.29.11
More than a year and a half after the disastrous collapse of the BP-operated Deepwater Horizon drilling rig in the Gulf of Mexico, it looks like someone may finally be held accountable for the accident, as federal prosecutors are reportedly preparing to file criminal charges against the oil company and perhaps some individual employees. [More]
DOJ Settles With BofA For $335 Million Over Countrywide Pushing Minorities Into Subprime Loans
By 12.21.11
Nearly four years ago, we first reported on allegations that Countrywide Financial, the failed lender that was bought by Bank of America after it collapsed, had their system set up so that non-white loan applicants were steered toward subprime loans, even if they could have qualified for a standard mortgage. Well, the wheels of justice turn remarkably slowly in Washington, DC, but today the Justice Dept. finally announced a settlement with BofA for $335 million over these allegations. [More]
AT&T Mulling Over Revisions To T-Mobile Deal To Appease Regulators
By 12.12.11
We’re guessing that when AT&T announced it was going to buy T-Mobile USA for $39 billion that it didn’t expect the deal would receive such jeers from the regulators at the Justice Dept. or the FCC. But with the former ready to go to trial to block the merger and the latter saying it will hold its own hearing if the DOJ fails, AT&T now appears to be looking at the Darth in the mirror. [More]
Department Of Justice Joins E-book Pricing Probe
By 12.8.11
The U.S Department of Justice has joined its counterparts in the European Union in looking into the pricing of e-books. A Justice Department spokesperson confirmed that the agency’s probe was concerned with the possible “anticompetitive practices involving e-book sales.” [More]
AT&T Pulls FCC Application For T-Mobile Merger
By 11.24.11
Two days after the FCC announced it intends to hold a rare administrative hearing on AT&T’s proposed purchase of T-Mobile USA, the folks at the Death Star have decided to pull their merger application to the regulator, at least until the end of its legal battle with the Dept. of Justice. [More]
FCC To Add Yet Another Speed Bump To AT&T/T-Mobile Deal
By 11.22.11
While we all wait for the legal fireworks that are sure to come from the Justice Department’s lawsuit to stop the AT&T purchase of T-Mobile, the folks at the Federal Communications Commission are reportedly looking to hold an administrative hearing on the deal, which could make things even more difficult for the merger. [More]
Justice Dept. To Put Debit Card Fees Under Antritrust Microscope
By 11.22.11
Even though Bank of America and a few others have — for now — ditched their plans to charge customers a monthly fee for making purchases with debit cards, the Justice Department has decided to look at the possible antitrust considerations surrounding the controversial proposals. [More]
AT&T Tries To Boot Sprint Suit From T-Mobile Hearing
By 10.24.11
Today AT&T is going to ask the Federal judge to toss out Sprint’s lawsuit seeking to stop it from buying up T-Mobile. [More]
T-Mobile Can't Cut Prices Because That Would Prove They Are Competing With AT&T
By 10.7.11
Last spring when the first Senate hearings were held regarding AT&T’s pending purchase of T-Mobile USA, the folks at the Death Star repeatedly stated that they weren’t trying to eliminate competition because they don’t view the much smaller T-Mobile as competition. Unfortunately for T-Mobile, having to keep up that charade while AT&T fights the Justice Dept.’s attempt to block the deal could result in the loss of millions of customers. [More]
