Law and legal issues

The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.

At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.

Prosecutors argued the 23-year-old courier knew he was aiding criminals, citing texts about "gold rushing" and scammer videos on his phone.

A Delaware judge denied HoldCo Asset Management's emergency motion for a temporary restraining order to stop the deal from closing. Fifth Third plans to complete its purchase on Feb. 1.

Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.

President Donald Trump's recently filed lawsuit against megabank JPMorganChase and its CEO Jamie Dimon is not expected to succeed in court, legal experts say.

Mortgage borrowers filed a third amended class action complaint against the bank over modification issues from 2010 to 2015.

The lawsuit, filed Thursday in Florida state court, alleges that the lender stopped offering banking services to Donald Trump and his businesses for political reasons.

The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.

The Supreme Court Wednesday appeared skeptical of the Justice Department's argument that removal of a Federal Reserve governor is unreviewable or that the president's preference for Fed governors outweighs the harm to the Fed from curbing the central bank's political independence.

The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.

The Federal Reserve announced it had approved the merger, marking the final regulatory hurdle the banks needed to clear. But a lawsuit seeking to stop the deal is still ongoing.

San Diego County Credit Union and California Coast Credit Union, which last year announced plans to merge, are now duking it out in court. SDCCU alleges there are widespread compliance problems at Cal Coast, which Cal Coast denies.

Acting CFPB Director Russell Vought agreed to request $145 million in funding from the Federal Reserve, yielding to a court order to avoid a contempt citation.

The Senate allowed the nomination of a permanent director of the Consumer Financial Protection Bureau to lapse, giving acting Director Russell Vought more time to lead the agency on a temporary basis.

The bank fired a manager for originating suspicious loans but later asked the SBA to forgive them, prosecutors say. The case ended in a $7.7 million settlement.

The deal still faces a lawsuit from activist investor HoldCo Asset Management, which contends that Comerica didn't properly shop itself before agreeing to sell to Fifth Third.

U.S. District Judge Amy Berman Jackson said the administration must request funds from the Federal Reserve, rejecting a Trump DOJ legal theory.

The Consumer Financial Protection Bureau will face an existential crisis in 2026 between the Trump administration's efforts to shut down the agency and the employee union and consumer advocates who want to stop them.

The bank regulator is proposing to strengthen national preemption in the wake of conflicting decisions in related court cases.