Law and legal issues

After a federal judge allowed a new state law to ban interchange fees on taxes and tips, a coalition of banks and credit unions struck back.

Treasury Secretary Scott Bessent said in a public appearance in Dallas Friday that the administration will seek alternative means of enacting the White House's tariff agenda after the Supreme Court struck down the tariffs as outside the bounds of the law.

The relevant Florida statute does not permit President Donald Trump's allegation that JPMorganChase CEO Jamie Dimon directed the bank to put Trump and his businesses on a "blacklist," the bank said in a legal filing.

The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.

An ugly legal dispute between two San Diego credit unions offers a warning about what can go wrong when careful relationship-building doesn't precede a marriage.

The Wall Street investment bank had staunchly defended Kathy Ruemmler over her previous association with Jeffrey Epstein. 

A Washington court denied a plaintiff request, pointing to past Supreme Court rulings that showed a compelling interest for the state's special-purpose credit program.

In a major setback for banks and credit card networks, a federal judge upheld an Illinois law that bans the collection of interchange fees on sales tax and tip portions of card transactions. Banks are expected to appeal the ruling.

Houston developer Colony Ridge Development agreed to resolve allegations that it operated a bait-and-switch scheme targeting Hispanic immigrants that led to massive foreclosures.

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.