Law and legal issues

The Maryland company is closer to addressing claims it lacked sufficient controls under its previous management.

The company paid Driver Opportunity Partners nearly $10 million for the shareholder's stock and to resolve a longstanding legal battle.

Revlon lenders that received more than half a billion dollars in accidental payments from Citigroup are asking a judge to free up the money he’s already ruled is theirs to keep.

After Wells Fargo became the first of the largest U.S. banks to do away with mandatory arbitration for sexual harassment complaints last year, Goldman Sachs Group is being urged to take steps in the same direction.

Alan Kaufman, who will be sentenced in June, faces up to 60 years in prison.

Visa and Mastercard are facing fresh opposition from U.S. retailers in a long-running legal fight over the fees merchants pay each time consumers swipe their credit or debit card at checkout.

Federal Savings Bank, the Chicago bank that lent millions of dollars to Paul Manafort under its founder and former longtime CEO, has now sued the former Trump campaign chairman and his wife, seeking to foreclose upon his mansion in the Hamptons.

Four former employees and several clients of Washington Federal Bank for Savings face charges of falsifying records to conceal the embezzlement of $31 million prior to the bank's December 2017 collapse.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

The Federal Reserve warned of significant risks of business bankruptcies and steep drops in commercial real estate prices in a report published on Friday.

The agreement with plaintiff MBIA Insurance resolves a lawsuit tied to the sale of mortgage-backed securities that plummeted in value during the 2008 financial crisis.

A federal judge denied the Office of the Comptroller of the Currency's motion to have the case thrown out, saying concerns about the agency's rulemaking process to reform the Community Reinvestment Act have merit.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.

The Maryland company agreed to improve its risk and compliance controls, estimating that it will cost $2 million to make changes.

The agency has amassed more in fines than it has returned to wronged customers. With Democrats now in power, some hope the bureau will allocate the unused money more aggressively.

Driver Management will try for a second straight year to gain a board seat at First United.

Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.”

The CFPB issued two rulemakings in 2020 that the financial services industry and consumer advocates hoped would finally clarify key issues over how collectors contact debtors and deal with legacy debts. But both sides want the incoming Biden administration to make further changes.

The new legislation includes a provision sparing lenders from having to pay such fees on Paycheck Protection Program loans, except in cases where they agree in advance with borrower representatives to do so.

The Pittsburgh bank says the data aggregator deceptively uses PNC's logo in obtaining bank customers' login credentials.