Law and legal issues

The monetary penalty is the biggest ever imposed by the CFTC. It's part of an accord that ends a criminal investigation of the company that has led to six employees being charged for allegedly rigging the price of gold and silver futures for years.

JPMorgan Chase is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter.

Driver Management, a bank investor, alleges that First United in Maryland made false claims and improperly lobbied lawmakers to keep its nominees off the board. The bank asserts that it acted properly in response to an attempted hostile takeover.

A recent victory for Navy Federal opens diversity jurisdiction to federally chartered credit unions, allowing them to more easily bring matters before federal courts.

Backers of lawsuits challenging federal charter and interest rate policies for nonbanks say states are sticking up for consumer protection. Others say the legal quagmire could slow efforts to improve the regulatory framework.

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds before the bank's December 2017 collapse.

Citigroup’s $900 million payment blunder in a normally low-profile part of the financial market dominated by a handful of banks has experts wondering if regulators will uncover a deeper problem.

The bank — which said it has been upgrading its loan operations platform after a review it undertook last year — said it mistakenly transmitted the payments after an employee didn't manually select the correct system options in its loan operation software.

By one method of estimating, Wells Fargo has missed out on roughly $4 billion in profits — and counting — since the cap was imposed, and it's unclear when the Fed will lift it.

An appeals court ruled that diversity jurisdiction applies to federally chartered credit unions, allowing them to bring suit in federal courts.

When customers contact Wells Fargo, its artificial intelligence system goes to work; what American Express is getting with it purchase of Kabbage; Fannie, Freddie refi fee will wipe out millions in mortgage profits; and more from this week's most-read stories.

Citigroup scored court orders freezing almost half of the more than $900 million it says was accidentally sent to Revlon lenders this month.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The bank has recouped part of the payment, which it blamed on a clerical error, but some of the lenders say they were owed the money in connection with an ongoing dispute.

Democrats Elizabeth Warren of Massachusetts and Brian Schatz of Hawaii have sent a letter to CEO Charlie Scharf demanding a response to news reports that the bank has been placing borrowers into forbearance plans without their consent.

The complaint filed by New York, California and Illinois argues that the regulation, issued in response to the 2015 Madden decision, undermines state laws intended to protect consumers.

The Nashville bank had sued Gaylon Lawrence in 2017 over allegations that he was pursuing an illegal takeover, but the two sides announced terms of a settlement.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

The case stemmed from the credit union's claims that the bank's branding would create confusion among consumers.

A court denied part of Fiserv's motion to dismiss the suit involving Bessemer System Federal Credit Union.