Federal Prosecutors Hit Bank of America with $864 Million Fine

The U.S. government is seeking to have Bank of America Corp. pay nearly $864 million in damages after the company was found liable for mortgage fraud. U.S. attorney Preet Bharara filed a request Friday that said the fine estimated the total losses the government incurred from the thousands of defective loans it bought from Countrywide […]

The End of an Era: Blockbuster Ceases Rentals in Advance of Closing

Following the announcement that Blockbuster is planning to shutter the 300 remaining brick-and-mortar video stores by January, the chain will cease movie rentals as of Saturday. The Texas-based video rental chain began tweeting about its last day of operation on Friday, adding that it will reopen Nov. 14 to liquidate its remaining inventory. Saturday is […]

White House calls subpoena for top tech official ‘unnecessary’

FORT LAUDERDALE, Fla. — The White House is reviewing a subpoena for testimony from its top technology chief, but a spokesman called the request from the House Oversight and Government Reform Committee an “unnecessary” distraction from the administration’s work to fix the broken health insurance website. Read more from the original source…

E-Booksellers Take a Walk on the Vile Side

Last month, British retailer WH Smith temporarily shuttered its site after people realized it was selling particularly objectionable sexual content. Meanwhile, Kobo.com, the Toronto-based e-reading company from which WH Smith got its material, announced that it was suspending distribution of all self-published ebooks. Online giant Amazon also got into the act by removing numerous titles […]

Patent Trolls May Soon Get Wake-Up Call

Witnesses squared off at a Senate subcommittee hearing on Thursday that focused on the controversial and combustible subject of patent assertion entities, also known as “patent trolls.” The Senate Subcommittee on Consumer Protection, Product Safety and Insurance held the hearing, with both advocates and critics of the current system testifying. The hearing preceded a forthcoming […]