Law and legal issues

The Bank is poised to pick two people to handle Simon Potter’s former job; Securities backed by subprime U.S. car loans are “going gangbusters.”

Democracy Forward filed the lawsuit Monday against the consumer bureau, Director Kathy Kraninger, the U.S. Department of Education and Education Secretary Betsy DeVos.

The company claims that its biggest investors is taking steps to seize control, oust the board and find a buyer.

The 2015 decision posed new legal challenges for institutions trying to sell loans to third parties, but the federal regulatory agency proposed steps Monday for banks and debt parties to evade state interest rate caps.

The remote deposit capture tech at the center of the dispute is used by 6,500 institutions. That may mean other institutions will have to pay licensing fees to USAA.

The FDIC and the Fed have yet to sign on to the plan; this year’s managing director class includes fewer overall, but a higher percentage are women.

The three federal bank regulators usually try to issue rules jointly, but Comptroller of the Currency Joseph Otting on Tuesday pointed to areas where the agencies may move on separate paths.

Goldman may abandon its revenue goal; in an attempt to boost revenue, Credit Suisse picks new leaders for its investment banking and capital markets unit.

The credit bureau will consider borrowers’ rental payment history and professional licenses; bank looks to build business on the other side of the Atlantic.

The CFPB, OCC and FDIC are signaling a renewed focus on the sector after regulation of it fell more to the states in recent years.

The Supreme Court is ready to weigh in on the CFPB’s leadership structure, but both agencies are facing similar constitutional challenges, suggesting a broader impact of any decision.

The San Francisco fintech company has agreed to pay a $110,000 fine for failing to comply with a 2017 state law that requires mortgage servicers to be licensed.

The North Carolina-based credit union is doubling down on claims of trademark infringement following the biggest bank merger in decades.

The case — the card issuer's third in six years — is an example of the legal peril that banks and other companies continue to face over the use of automated phone calls for debt collection and other purposes.

The former credit union employees are now banned from working at federally insured institutions.

Issuance of securities backed by the ostensible Libor replacement hit by money market turmoil; Jho Low will surrender luxury assets.

The complaint alleges the lead plaintiff was charged two separate fees for the same transaction and she didn't have sufficient funds.

The Raleigh-based credit union hit its latest milestone just three years after reaching 200,000 members.

The credit card issuer, which recorded an 11% decline in net income last quarter, took one-time charges in connection with a U.K. sales scandal, the start of a new partnership with Walmart and a recent data breach.

A regulatory cloud still follows fintech companies following a judge's decision throwing out the Office of the Comptroller of the Currency’s special-purpose charter.