Law and legal issues

Bank trade groups filed a motion for a preliminary injunction to stop the Consumer Financial Protection Bureau's $5 overdraft fee rule from going into effect late next year.

The Federal Deposit Insurance Corp. is considering suing former Silicon Valley Bank executives over risk management decisions, imprudent dividends and billions in losses that fueled a banking crisis in 2023.

Banks will feel the fallout from a court's decision to strike down a Nasdaq rule that would have mandated more disclosure about the racial and gender composition of corporate boards.

U.S. District Judge Mark T. Pittman wrote that trade groups that sued the Consumer Financial Protection Bureau earlier this year "are likely to succeed on the merits" of the case.

The Dallas-based bank has a growing list of legal and regulatory issues — some of them connected to its role in a U.S. government benefits program, and others not.

The Consumer Financial Protection Bureau has asked a Texas court to halt Comerica Bank's practices.

A federal judge in Texas has blocked the enforcement of the Corporate Transparency Act, a key U.S. anti-money-laundering law that would require companies to report ownership details by January.

The Delaware-based bank filed a complaint against two companies that built a WSFS logo display in downtown Philadelphia. Part of the signage eventually broke off in what the bank called an "almost-tragedy."

Items include estimations of President-elect Donald Trump's impact on fintech funding, the fallout from VyStar Credit Union's tech moves and more.

Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.

The Dallas-based bank is accusing the Consumer Financial Protection Bureau of "pursuing an aggressive and overreaching investigation" into its role in a Treasury Department prepaid card program.

Los Angeles-based Dave got sued Tuesday by the Federal Trade Commission. Its stock price briefly plunged before soaring in the wake of Donald Trump's election.

The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.

This month's roundup includes items on TD Bank Group's asset cap and $3 billion in money-laundering fines, the Consumer Financial Protection Bureau's final rule on open banking and more.

A Supreme Court ruling from earlier this year regarding national bank preemption is already playing a prominent role in the banking sector's challenge to a state law on charge card fees.

The credit card heavyweight said that it expects its acquisition of rival Discover will close in early 2025, pending the approval of shareholders and regulators.

A federal appeals court this year reversed Townstone Financial's earlier victory, ruling the regulator had authority to apply a lending law to prospective applicants.

New York Attorney General Letitia James asked a state court for permission to issue subpoenas to Capital One as part of an ongoing antitrust probe by the state,

Consumer Financial Protection Bureau Director Rohit Chopra said opposition to the bureau's recently finalized open banking rule should be viewed as banks and other large firms attempting to quash competition and stymie consumer data protection.

The Bank Policy Institute is among the parties that filed a lawsuit late Tuesday to challenge the Consumer Financial Protection Bureau's new open banking rule.