Law and legal issues

The bank is having trouble finding an outsider and acting chief Allen Parker has impressed the board; the former Chicago mayor will join Centerview Partners.

The chief operating officer for the Americas at Deutsche Bank, as well as SoFi's heads of marketing, risk and capital markets, are all moving on; John Williams tells bankers they need to do more to clean up misconduct at their companies.

Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's most-read stories.

CUNA and NAFCU have filed amicus briefs supporting the world’s largest credit union in a suit they say could set a precedent for CUs across the country.

As part of the deal, the agency summarized its policy on account terminations and issued a letter acknowledging that some employees “acted in a manner inconsistent with FDIC policies with respect to payday lenders.”

The House Financial Services and Intelligence panels had "legitimate legislative purpose" in requesting President Trump's financial records, the judge said. It is the second such ruling this week.

The comptroller, now a year and a half on the job, discusses his attempts to revamp the supervision process for national banks and make the agency run more efficiently.

A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts.

Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down.

The New York bank says it acted appropriately in withholding the collateral on a loan to a developer that First Foundation Bank later refinanced. First Foundation’s CEO begs to differ.

A former call center worker says he lost his job last year after reporting that employees were given incentives to market credit cards to ineligible borrowers.

Big banks may have found a way to lower needed reserve levels; with Brexit delayed, Goldman will hold off on expansion.

Banks that serve U.S. farmers are increasingly restructuring existing loans and boosting the collateral needed for new ones as the numbers of late and missed payments have risen.

The tech company denied allegations from Bessemer System Federal Credit Union regarding security issues and other problems with Fiserv's services.

CEO Solomon says the bank has not yet begun discussions with DOJ about its role in the scandal; the $1 billion buyback would be its first in 20 years.

Director Kathy Kraninger said the agency will emphasize a confidential supervisory process instead of just doling out public enforcement actions. But skeptics worry this will let companies escape punishment.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The bank agreed to pay $150 million to California to settle charges it hid the risks on the sale of mortgage bonds pre-crisis; foreign suitors circle Commerzbank while Deutsche Bank seeks answers.

The Wisconsin Supreme Court upheld a "narrow interpretation" of a state-level consumer-protection law that maintains lenders' rights to collect debts without fear of being sued for damages.

The settlement comes as Navy makes history by becoming the world’s first credit union to exceed $100 billion in assets.