Law and legal issues

The case against Yellowstone Capital, which state officials alleged deceived small-business borrowers, has brought attention to the industry.

The ruling lets state Attorney General Letitia James continue arguing Citi should have reimbursed customers for wire fraud, though some claims were dismissed.

The lawsuit alleges mismanagement and fiduciary breaches caused SVB's 2023 collapse, costing the Deposit Insurance Fund $23 billion.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.

The Supreme Court heard oral arguments in Thompson v. United States, which could decide whether the federal government can prosecute "misleading" in addition to "false" statements to the Federal Deposit Insurance Corp.

Debt collection trade group ACA International and Specialized Collections Systems, a Houston-based debt collector, filed a lawsuit against the Consumer Financial Protection Bureau alleging its medical debt rule is outside its authority.

Two trade groups filed a lawsuit against the Consumer Financial Protection Bureau claiming it exceeded its authority and ignored the legislative history on medical debts.

A customer claims the Massachusetts bank fined her numerous times over a single botched purchase. The bank paid her back — but her class action lawsuit isn't going away.

The manufactured home loan lender, a unit of Berkshire Hathaway subsidiary Clayton Homes, was accused of ignoring red flags that sent many borrowers into bankruptcy, default and ultimately out of their homes.

An appeals court ruled that online lender CashCall had waived its right to a jury trial and that its other challenges "lack merit," in a lawsuit filed by the Consumer Financial Protection Bureau in 2013.