U.S. Attorney General closes in on multiple banks

By Ben Geier May 13, 2014: 11:13 AM ET

By Ben Geier, reporter

FORTUNE -- The Obama administration may have more than two years left in office, but U.S. Attorney General Eric Holder is making his last push to take action against Wall Street firms, theWall Street Journalreported Monday evening.

In the next few days, the Justice Department is expected to look for a guilty plea from Credit Suisse Group (CS), according to the Journal. Following that, the department expects tofinalize deals with Bank of America (BAC), Citigroup (C), and BNP Paribas (BNPQY).

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The settlements relate to various infractions committed by the banks; for instance, Bank of America's case relates to how it dealt with mortgage-backed securities going all the way back to the lead-up to the 2008 credit crisis.

Citi's situation also deals with mortgage-backed securities, while BNP Paribas is suspected of ignoring U.S. sanctions on other countries, including Iran.

"I am impatient," Mr. Holder told the Journal. "We're talking about conduct that contributed to the greatest financial disaster since the Great Depression. Not the sole cause, but contributed to it, so this is a priority, and that's why I'm dedicating so much time to it."

The story notes that Holder -- a frequent target of criticism from the right who has served in his role since the beginning of the Obama administration -- is expected to remain at his post through at least November's midterm elections.

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U.S. Attorney General closes in on multiple banks

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