Law and legal issues

Rule that would have made it easier for banks to be sued is repealed; a survey says the technology isn’t a priority for bank CIOs.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses, earning praise from credit union trade groups.

With little fanfare, President Trump officially nixed the rule prohibiting financial firms from including mandatory arbitration clauses.

Eight leagues/associations now are part of class action response to massive hack, with two leagues – representing CUs in Nebraska, Arizona, Colorado and Wyoming – joining on Halloween.

Political stalemates have convinced many executives that relief will only come when agency leaderships turn over.

American Banker reporter Kate Berry explains the Senate's vote on arbitration and what the CFPB might do next.

CFPB Director Richard Cordray sent a letter to President Trump Monday asking him to veto a Republican resolution to nullify the bureau's arbitration rule.

Barclays and the Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation.

Small banks targeted a handful of GOP senators; bank may lose more than $450 million, mainly due to its Puerto Rico auto finance unit.

The stunning defeat of the Consumer Financial Protection Bureau's arbitration rule didn't have to happen, according to critics and former agency officials.

The Senate's repeal of the Consumer Financial Protection Bureau rule is arguably the industry's biggest policy victory since passage of Dodd-Frank. But is it the sign of a trend?

Readers weigh in on Amazon as a bank threat, claims that big banks are poor fintech partners, whether there are too many banks in the U.S. and more.

German bank says the $220 million settlement closes the book on its Libor-related misdeeds; reopening mandatory arbitration could backfire on banks.

The Senate's repeal of the Consumer Financial Protection Bureau rule is arguably the industry's biggest policy victory since passage of Dodd-Frank. But is it the sign of a trend?

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates.

While used infrequently by credit unions, arbitration clauses can be an effective way to ensure both the credit union member and the credit union's interest are protected when disputes arise.

Pence breaks tie to overturn rule prohibiting mandatory arbitration; depositors receiving higher rates in effort to retain them.

Republicans were able to use an obscure legislative process to overturn a rule that banks and credit unions feared would raise their litigation costs.

But using a broad, sweeping rule that applies equally to credit unions and Wall Street banks doesn't make sense, and certainly doesn't benefit the consumer.

Consumer Financial Protection Bureau Director Richard Cordray pushed back against a Treasury Department report critical of the bureau's arbitration rule, saying it overlooked how class action lawsuits help consumers.