Law and legal issues

The National Credit Union Administration barred three former credit union employees from participating in the affairs of any federally insured depository institution.

A recent California Supreme Court decision means that lenders can be on the hook for consumers’ attorney fees in situations where car dealers defraud them. The case involved TD Auto Finance and a dealer that allegedly sold a vehicle without certain advertised features.

A JPMorgan Chase financial advisor filed a federal workplace complaint accusing the bank of harboring a culture of “unchecked greed, avarice and misogyny” and undermining her by excluding her from client meetings and taking away her resources.

J.P. Morgan Chase Bank N.A. was sued by a unit of the French maker of Ray-Ban glasses, which claims the bank ignored red flags as international cybercriminals drained $272 million from its New York bank account.

Hundreds of women who’ve worked for Goldman Sachs Group were given a choice: remain in one of Wall Street’s biggest gender discrimination lawsuits, or leave for the more secretive system of arbitration.

JPMorgan Chase will have to face claims that it made 160 unwanted calls to a cardholder in violation of federal law, a federal judge in Pennsylvania said.

Wells Fargo won an early round in a lawsuit accusing the bank of running a predatory mortgage lending scheme in the Atlanta area before the 2008 financial crisis and continuing to discriminate against minorities for more than a decade afterward.

A bet on gambling payments, a step for open banking and more in banking news this week.

A $1.9 billion lawsuit against Bank of Montreal — which is accused of lying to a judge after a predecessor bank destroyed documents — may go to trial late this year. The legal imbroglio is coming to a head as regulators examine the Canadian banking giant’s proposed acquisition of Bank of the West.

The company has filed a lawsuit against the banking commissioner for threatening to end its partnership with a bank that enables consumer loans to exceed the state’s 36% interest rate cap. OppFi’s argument: Its bank partner is the true lender.

A judge’s decision puts new pressure on the brokerage industry watchdog and the SEC.

The Federal Trade Commission recently issued an advisory opinion that could make it easier for consumers to recover their legal costs from banks in situations where they were defrauded by a car dealer.

The U.S. Treasury Department defeated a blue-state challenge to a rule that exempts buyers of high-interest loans from state interest rate caps.

R. David Yost and his soon-to-be-former son-in-law are slugging it out in court over allegations of tax evasion.

The wirehouse and its attorney “manipulated the arbitrator selection process” and “introduced perjured testimony,” according to the ruling.

A Citigroup employee says she provided U.S. regulators with information that led to the bank's paying a $400 million fine. Now, she wants the judge to award her a share of the penalty.

The CEO of Hong Kong's securities regulator said the bank's failures "exposed a culture that encouraged chasing revenue at the expense of basic standards of honesty."

Tesla countersued JPMorgan Chase over a suit the bank filed last year seeking a $162 million payment related to a series of stock warrant transactions.

The Conference of State Bank Supervisors abandoned a lawsuit against the Office of the Comptroller of the Currency that had challenged the San Francisco fintech's effort to become a national bank without deposit insurance. The company recently amended its application to drop that controversial element.

Under an agreement with 40 state attorneys general, the student lender and servicer agreed to cancel debt for over 66,000 borrowers and pay restitution to another 350,000 borrowers placed in certain types of forbearance.