Law and legal issues

The Consumer Financial Protection Bureau's temporary legal victory on Thursday has lowered the odds that President Trump will seek to remove the agency's director, Richard Cordray, despite repeated calls by prominent Republicans for his ouster.

A federal appeals court agreed Thursday to hear an appeal by the Consumer Financial Protection Bureau challenging a ruling last year that its single-director structure is unconstitutional, a victory for the embattled agency.

The American Bankers Association filed a lawsuit Thursday against the federal government over a Federal Reserve rule mandated by Congress that diverts dividend payments to Fed member banks to the highway fund.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

JPM snatches $1 trillion custodian business from long-time holder State Street; Harvard will lay off half of the employees managing its $35.7 billion endowment.

The National Credit Union Administration and credit union trade groups cheered a judge's decision to dismiss a lawsuit against the agency's member business lending rule, but ICBA is still mulling the possibility of an appeal.

The Consumer Financial Protection Bureau is drunk on power. Let’s return the agency’s regulatory responsibilities to the states and those agencies covering the relevant industries.

"There is an added sense of urgency now," says Barbara Roper, director of investor protection at the Consumer Federation of America.

The Consumer Financial Protection Bureau and two states on Wednesday sued the nation's largest student loan servicer, Navient, for allegedly systematic failures in processing loan payments and failing to enroll borrowers in less expensive repayment plans.

Navient Corp. was sued by a U.S. regulator over allegations that the student loan giant "systematically" cheated borrowers.

The Consumer Financial Protection Bureau on Wednesday warned about the risks of the online debt sales, alleging that sensitive personal and financial information is available in some instances to any visitor to a debt marketplace website.

SoftBank's big bet on next-generation tech; Supreme Court hears surcharge arguments

HSBC was fined $32.5 million for failing to comply with a 2011 consent order that directed the bank to revamp its mortgage servicing and foreclosure practices.

The pieces of a more equitable fate for troubled financial giants are beginning to come into view as evidenced by this week´s private-sector rescue of CIT. The lender´s salvation may serve as a prop for future government bailout strategies. But its ordeal is also further proof that the government needs more power to seize and resolve large companies.