US senator looking into whether top banks violate rules repeatedly

Washington

THE top Democrat on the US Senate Banking Committee is conducting a wide-ranging inquiry into Wall Street's compliance with government enforcement settlements, following complaints that banks keep getting in trouble after being punished by regulators.

Ohio Senator Sherrod Brown sent letters to more than a dozen major banks last week, requesting details on legal judgments they entered into with 15 agencies, dating back to 2005. While it doesn't specifically say what the focus of the investigation is, many of the demands relate to whether banks are regularly running afoul of laws and regulations.