Court cases

The Conference of State Bank Supervisors says the OCC's 2011 preemption rules are out of step with Supreme Court rulings and unfairly disadvantage the state banking system.

Apollo Global Management's billionaire co-founder Marc Rowan described conversations he and Charlie Javice had during her discussions with the bank, including about a one-on-one meeting she had with JPMorgan Chief Executive Officer Jamie Dimon.

Marc Rowan's membership on Frank's board was cited by the defense at the beginning of trial as showing Charlie Javice's company was a legitimate and credible business.

Americans for Financial Reform say in an amicus brief that the Second Circuit should revisit a 30-year old decision ruling that loan participations were not securities.

Win or lose, Citibank’s battle to recover half a billion dollars from an accidental payment is sure to prompt a review of internal controls in the industry and could have a lasting impact on the more than $1 trillion syndicated loan market.

Many have assumed the high court would rule that presidents can fire the Federal Housing Finance Agency director at will. But during oral arguments in a case challenging the agency’s structure, some justices suggested they could stop short of such a decision.

A recent victory for Navy Federal opens diversity jurisdiction to federally chartered credit unions, allowing them to more easily bring matters before federal courts.

A state judge deciding a dispute between Spencer Savings and an investor said the mutual must get an independent review before switching from a savings association to a savings bank. The ruling may complicate mutuals' efforts to make more business loans.

An appeals court ruled that diversity jurisdiction applies to federally chartered credit unions, allowing them to bring suit in federal courts.

The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.

Citing possible exploitation, Bank of America instituted a policy that put limits on loans to persons in guardianship. It later ended the policy.

The Nashville bank had sued Gaylon Lawrence in 2017 over allegations that he was pursuing an illegal takeover, but the two sides announced terms of a settlement.

The case stemmed from the credit union's claims that the bank's branding would create confusion among consumers.

A court denied part of Fiserv's motion to dismiss the suit involving Bessemer System Federal Credit Union.

The high court ruled June 29 that the structure of the Consumer Financial Protection Bureau violated the separation of powers.

The court struck down a 2015 update to the Telephone Consumer Protection Act, which permitted robocalls to cellphones for government-related debt collection.

Credit unions won the day as the Supreme Court rejected an appeal that would have limited consumers' access to financial services. Now Congress must act to remove those field-of-membership restrictions entirely.

The industry claimed victory over banks as the Supreme Court elected not to hear a challenge to a controversial 2016 rule, but the landscape has shifted dramatically since NCUA approved the measure.

The Supreme Court ruled the Consumer Financial Protection Bureau's leadership structure is unconstitutional and refused to hear a lawsuit over the NCUA's field of membership rule. Credit unions are watching to see what happens now.

The court's decision not to consider an appeal from the American Bankers Association is likely to be the last step in a legal saga dating back to 2016.