Law and legal issues

A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

The bank revealed Friday that it is facing hefty regulatory penalties and will likely have to restate first-quarter earnings. Declines in loan balances and fee income and questions about upcoming stress tests are only adding to investors' worries.

A panel of judges remained skeptical of claims by Leandra English, deputy director of the Consumer Financial Protection Bureau, that she is the rightful head of the agency. But they didn’t sound convinced that current acting Director Mick Mulvaney is, either.

Beach Community Bank in Fort Walton Beach will be sold for $100 million once its holding company goes through bankruptcy, according to a local news report citing the bank.

JPMorgan Chase was sued for charging "sky-high" interest rates and fees to customers who used their credit cards to buy cryptocurrencies such as bitcoin.

A $1 billion penalty being bandied about; Deutsche’s problems may be too big to eradicate.

The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges that the CFPB rule is "arbitrary, capricious, and unsupported by substantial evidence."

National Credit Union Administration board member Rick Metsger says a federal judge overstepped the court's bounds when striking down portions of the agency's field-of-membership rule, but stopped short of saying the regulator planned to appeal the decision.

Banks have not yet finished with the wave of lawsuits stemming from the financial crisis. There are ways they can better ward off those threats next time around.

If the National Credit Union Administration appeals a judge's decision against part of its rule, it could help the ABA potentially upend other provisions.

A court agreed with HomeStreet that Blue Lion Capital failed to comply with the company's advance-notice bylaw when it submitted director nominations and shareholder proposals.

A federal judge struck down two provisions of the National Credit Union Administration's embattled field of membership regulation as "manifestly contrary to statute," while upholding two others.

A federal judge has upheld two provisions from NCUA's revised field-of-membership rule but struck down two other measures related to population centers.

The investigation targeted 36 residential mortgage-backed securities deals involving $31 billion worth of loans, more than half of which defaulted, according to the Justice Department.

For Remington Outdoor Co., one of the oldest firearms makers in the U.S., not even going bankrupt is easy these days.

FIs say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.

Banks say that an appeals court’s decision to ease restrictions will allow them to warn customers more easily when loans are past due or accounts have been compromised. But consumer groups argue that the decision gives financial firms license to market their products more aggressively and could lead to more harassing phone calls over unpaid debts.

The credit union is being sued by a member who claims the CU improperly charged him overdraft fees based on his available balance rather than his actual balance, thus triggering additional NSF charges.

Three unnamed "senior" employees helped the SEC win a $415 million settlement from the bank; Sherborne Investors takes a 5.2% stake in the British bank.