Law and legal issues

A trade group representing debt collection agencies alleges that the Golden State is charging unlawfully high licensing fees in an effort to fund an inflated budget. California regulators declined to comment on the suit.

The payments processing firm recently filed for Chapter 7 bankruptcy with a nearly $3 million disputed charge owed to a subsidiary of Global Payments.

Swiss banking giant UBS tried to get a federal court to reject new allegations that Credit Suisse, which UBS acquired in 2023, had concealed Nazi-linked assets.

A federal appeals court has agreed to rehear a challenge to a Colorado law intended to combat "rent-a-bank," arrangements that would impose Colorado's interest rate caps on certain out-of-state banks.

As the CFPB reconsiders its open banking rule, banks and fintechs are locked in a bitter battle over who will pay for the new digital infrastructure.

The Department of Justice is seeking court approval to immediately fire more than 600 employees, slashing the CFPB's workforce by 53%.

Alessandro DiNello, who served as Flagstar's executive chairman in 2024, said he's leaving in order to enjoy his retirement. Meanwhile, a lawsuit accusing him of various wrongdoings is still pending.

The federal court rejected Flagstar's attempts for both a panel rehearing and an en banc hearing to overturn California's interest on mortgage escrow rule.

The nation's second-largest bank agreed to the massive settlement to avoid a looming trial in May over accusations that it enabled suspicious, multimillion-dollar transactions — including a staggering $170 million payment from the former Apollo CEO Leon Black — to Epstein.

Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.

New app-based programs resemble payday loans, often trapping users in a pattern of fee-based transactions while demanding "tips" that cost some consumers hundreds of dollars per year.

The long-defunct Nationwide Biweekly Administration, accused in 2015 of deceptive marketing, has been ordered to pay a $7.93 million civil money penalty.

A federal judge said Friday that the Trump Organization will have three months to collect new evidence and refile its complaint. It alleges that Capital One illegally closed hundreds of its accounts following the Jan. 6, 2021, attacks on the U.S. Capitol.

The Trump administration hasn't formally charged Swalwell, Adam Schiff or Lisa Cook, while a federal court tossed a prosecution against Letitia James.

Todd Lane, the CEO of California Coast Credit Union, described an allegation by an executive at San Diego County Credit Union as "categorically inaccurate." The two institutions are locked in a legal fight after their agreement to merge turned contentious.

Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.

The Ohio-based lender is accusing Atlantic Coast Mortgage of stealing customers, while a Chicago bank is accusing Lower of raiding a Maryland branch.

The Office of the Comptroller of the Currency and 10 former officials filed amicus briefs that provide legal heft to banks battling the state of Illinois over a law that removes sales taxes and tips from interchange fees.

Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.

The Trump administration wants to reverse fair-lending laws; the Fed's rate setters will do exactly what they've already told everybody they're going to do.