Law and legal issues

The Supreme Court dealt hedge funds and other big investors a blow Tuesday by refusing to revive core parts of lawsuits that challenged the federal government’s capture of billions of dollars in profits generated by Fannie Mae and Freddie Mac.

The CFTC will pay the award for tips received from one person in the case, in which the bank didn’t properly disclose that it was steering asset management customers into investments that would be profitable for the bank.

HopFed was ordered to pay the legal fees for Stilwell Group, which sued the bank after its directors passed a bylaw intended to keep the investor off its board.

The statutory clock on Mick Mulvaney serving as acting head of the Consumer Financial Protection Bureau is under a year, but the administration's path to getting a full-time director confirmed by the Senate has never looked rockier.

Citigroup said an Italian court rejected a €1.8 billion ($2.2 billion) civil claim filed by Parmalat against the bank over the food company's collapse in 2003.

A Georgia Supreme Court case sheds light on the lengths that the often assailed industry has gone to shape policy outcomes. It also raises the question of whether, in evaluating industry-funded research, it is enough to assess the published study itself, or if it is necessary to dig deeper.

The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards.

In his decision Thursday, U.S. District Judge Paul Gardephe said the lawsuit brought by the Lower East Side People's Federal Credit Union lacked standing.

Appeals court says single director is constitutional; the CFTC is rethinking policies because of bitcoin.

A federal appeals court handed a major victory — and a significant defeat — to the CFPB by upholding its constitutional structure while also slapping down the agency's practice of making new interpretations of law through enforcement actions.

The decision by the appeals court means that a president can only fire the head of the Consumer Financial Protection Bureau for cause. But the ruling also scrapped the CFPB's massive fine against a nonbank mortgage lender.

Lower East Side People’s Federal Credit Union is on a mission to protect the Consumer Financial Protection Bureau from Mick Mulvaney.

A judge in federal district court on Friday declared the plaintiff in Carroll vs. Northwest Federal Credit Union did not have standing to sue due to ineligibility for membership at the credit union.

Several banks won’t process cybercurrency transactions while others are reviewing their policies; agency promises flexibility to lenders.

In a strongly worded memo to staff of the Consumer Financial Protection Bureau Tuesday, acting Director Mick Mulvaney indicated the bureau will value the concerns of companies it regulates to the same extent as consumers.

The Consumer Financial Protection Bureau appears to have concluded no enforcement action is necessary for World Acceptance Corp., which had been accused of trying to profit from repeat borrowers.

A federal appeals court on Tuesday agreed to expedite the appeal brought by Leandra English, the deputy director of the Consumer Financial Protection Bureau who has sought to unseat acting Director Mick Mulvaney.

In a blow to the Consumer Financial Protection Bureau, a federal judge rejected the agency's request for over $280 million in penalties against the California lender CashCall, ruling that the lender's violations did not justify such a large fine.

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.