Bank of America

House and Senate Democrats are vowing to probe President Trump's deal to import Russian diesel to the U.S. and are asking banks and ports to preserve records related to that issue, saying they anticipate further congressional oversight.

Letters were sent to JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley.

Letters were also sent to several ports, including the Port Authority of New York and New Jersey.

The iPhone Duo is getting complaints.

Now, House and Senate Democrats say they'll probe President Trump's deal to import Russian diesel to the U.S. They're asking banks and ports to preserve their records related to that issue, saying that they anticipate more congressional oversight.

Letters were sent to JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley.

They were also sent to several ports, including the Port Authority of New York and New Jersey.

Brazilian markets are seeing steep losses after President Luiz Inácio Lula da Silva pulled off a stunning comeback to defeat Flavo Bolsonaro, the right-wing candidate that many investors preferred.

Coming up, just four days.

That's the average shipping time for an iPhone 18 Pro, according to Bank of America.

But you'll have to wait till 2027 if you want a foldable Duo.

That, plus some of the early complaints rolling in, is next.

Well, we know later that he settled on for a huge amount of money to end anything against him in the U.S. Virgin Islands.

Again, we have JPMorgan Chase, Deutsche Bank, Bank of America, Bank of New York Mellon, HSBC, and a bunch of foreign banks involved here.

JPMorgan compliance correspondent discussed expanding Epstein-related review to connected parties and examining Highbridge and Bear Stearns relationships, if you remember.

Bear Stearns imploded when a unqualified, it would seem.

And I want to remind you that the U.S. Virgin Islands announced $105 million settlement in cash last and half of Little St. James sale proceeds, and $450,000 in remediation, but we don't know exactly what that was for.

J.P. Morgan, $75 million in a separate $290 million survivor class settlement.

Deutsche Bank, $75 million survivor class settlement, and $72 million Bank of America settlement.

And now New Mexico alleges the two trustees, Undyke, received $16 million and Kahn received $10 million during 2011 to 2019.

In the 1920s, the McFadden Act was passed, prohibited banks from doing business over state lines.

And so like Bank of America, for example, never existed in the state of Rhode Island where I live.

It was only in the state of California until the 1990s.

Many people have been shocked to know that.

Here in Rhode Island, it used to be called Fleet Bank and then was bought out by Bank of America.

But on tonight's show, what we're going to do is talk about some of the early history of banking in the United States because it's sort of the wild, wild west, if you will, of banking.

And the other thing we'll talk about too is the central banking in the US where we had like an 80-year period where there was no central bank, no central planning from a financial standpoint in the United States.

The judge noted that First Bank opposed the motion, which was argued during an October 15th hearing.

Following the hearing, Rakoff requested additional numerical information from a claims administrator involved in separate Epstein-related litigation concerning Bank of America, J.P. Morgan, and Deutsche Bank.

And there it is, the blueprint.

One thing courtrooms love is precedent.

He's got a good ass.

What do you want from me? Anyway, so Tampa Bay Buccaneers, Carolina Panthers was played at Bank of America, but really it was played behind the woodshed.

What happened there? Jesus, Carolina, our favorite team.

Yeah.

And remember back then, yes, so one of the biggest products that they were talking about were those interest-only loans, right? So you're paying just the interest for however long, and then when the principal had to kick in, that's when numbers, that's when your payment soared, right? So that's one of the challenges with that.

Economists at Bank of America said this summer they see no evidence of the overbuilding or the overborrowing that set up 2008. so that was the biggest issue back then it was lending it was not the housing market it was not the prices of homes it was not the number of people in the market it was lending lending was the problem but when you've got you know irresponsible reporters saying that buying trends look like 2008 again It puts that whole period into people's minds that, oh my gosh, we're going to go through this again.

And that doesn't mean just housing.

That means the economy as a whole, banks, jobs, everything.

While I do this, I'm going to ask Grok, while you tell us this AI warning from the banking industry.

okay well banks are noticing a big uptick in third-party AI agents accessing customer accounts now some of them are legit but you know we've heard these stories lately about how these AI things go rogue and they access accounts and they give out information so they're putting a stop on it they're requiring people not to use AI or to make sure that these transactions come from actual humans and JP Morgan, Bank of America, Citi, Morgan Stanley, they're completely restricting any third-party AI agents from using bank accounts.

So does that, I mean, should we get in touch with Clark Howard? We

might need Clark on that one, yeah.