Law and legal issues

The agency's rule outlines steps collectors must take to inform consumers about an outstanding debt, and prohibits companies from pursuing lawsuits after a statute of limitations has ended.

Bansley & Kiener, without admitting wrongdoing, agreed to pay $2.5 million to address allegations that lax oversight contributed to the 2017 collapse of Washington Federal Bank for Savings.

A trial to get underway this week over one of the biggest banking errors in recent memory will be closely watched on Wall Street, and its outcome could have a significant impact on the industry.

The president-elect has legal backing to fire Director Kathy Kraninger thanks to a recent court ruling, but Republicans are prepared to challenge his ability to choose her successor.

The Ohio company will benefit after settling unpaid judgments tied to nonperforming loans at a bank it bought before the last financial crisis.

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.

A former Fifth Third executive recently accused the company of failing to deliver on a promise to make him president because he’s in his mid-50s. The case offers important lessons in hiring and succession planning as the banking industry cuts costs and seeks out younger, digital-savvy managers.

Women suing Goldman Sachs Group for gender discrimination are going after any internal documents with words like “babe,” “bimbo” or worse that they say would show bias by executives who administered the bank’s promotion and evaluation policies.

The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says.

Giant banks have racked up more than $4 billion in U.S. penalties in a wave of settlements weeks before the presidential election. That says a lot about an industry that once vowed to behave after the 2008 financial crisis — and about the regulatory risks it sees ahead.

The agency’s final rule modernizing the Fair Debt Collection Practice Act limits calls to seven per week, but collectors won stronger protections from liability claims and other key changes to the original proposal.

Amy Coney Barrett will assume a lifetime appointment on the Supreme Court, just as it prepares to hear a case on the Affordable Care Act that could toss years of advancement in health care payments into disarray.

The Iowa company said it will pursue a two-step acquisition to address unspecified issues raised by the Federal Reserve as part of its review of the acquisition.

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say.

USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read stories.

Plaid said it has been in discussions with TD Bank over allegations of trademark infringement and false advertising and was caught off-guard by the lawsuit the bank filed Wednesday.

Plaid said it has been in discussions with TD Bank over allegations of trademark infringement and false advertising and was caught off-guard by the lawsuit the bank filed Wednesday.

The Buffalo, N.Y., bank will pay a $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs.

In a lawsuit filed Wednesday, the U.S. subsidiary of Toronto-Dominion Bank accused the data aggregator Plaid of improperly using the bank’s name, trademarks and logos when it gathers TD customers' data.

Citigroup can seek information on the relationship between investment managers and Revlon Inc. creditors who have refused to return millions of dollars the company says it mistakenly sent them, a judge ruled.