Law and legal issues

After the U.S. government alleged that the cash-advance app doesn't make the cost of "tipping" clear to customers, the Los Angeles-based company said it would implement a new business model in early 2025.

The Consumer Financial Protection Bureau has sued some of the largest U.S. corporations and banks before the changeover to the Trump administration later this month.

The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.

The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts and charging $10 million in fees. Branch said the agency refused to engage in any meaningful way about the matter.

The Consumer Financial Protection Bureau sued three of the largest U.S. banks for fraud perpetrated on the bank-owned payment network Zelle, alleging shoddy safeguards and millions in consumer losses.

The Federal Deposit Insurance Corp.'s decision to weigh civil lawsuits against Silicon Valley Bank executives to recover losses to its Deposit Insurance Fund isn't rare in itself, but the bipartisan nature of the move and size of the failed institution suggest a current that isn't changing with the presidential administration.

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.