Lawsuits

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

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.

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.

Morgan Stanley agreed to pay $60 million to settle a class action suit by consumers claiming the firm failed to safeguard their personal information.

Shares of Medallion Financial plunged Wednesday after U.S. regulators accused the New York-based lender to taxi drivers of seeking to illegally boost its stock price amid intense competition from Uber Technologies and Lyft. 

Capital One Financial agreed to pay $190 million to settle a class action filed against it after a hacker broke into its cloud computing systems and stole their personal information.

The ruling may offer hope for Gwen Campbell, who alleges that JPM’s private bank is “poaching” and “siphoning” her celebrity clients’ assets away from her management and paycheck.

JPMorgan Chase, Citigroup and six other large banks may have information about billions of dollars looted from Libya by its former dictator Moammar Al Qaddafi, the Libya government said in a subpoena application. 

A former vice president in JPMorgan Chase’s anti-corruption unit claimed in a lawsuit that she was marginalized, mistreated and fired from the bank for complaining about compliance failures.

The California bank sued a former executive for allegedly taking trade secrets and using them to build a rival fintech. A recent interim ruling frees Aeldra Financial to move ahead with fundraising while the case continues.

Wells Fargo reached a settlement with the U.S. Justice Department over claims it overcharged commercial customers who used the bank’s foreign exchange services.

A predecessor bank, Allegiant Bancorp of St. Louis, was accused of fraud and breach of fiduciary duty in connection with a scheme run by a seller of funeral contracts.

An opponent of affirmative action is challenging the U.S. Securities and Exchange Commission’s approval of a rule to get more women and minorities on the boards of companies trading on Nasdaq.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

Moore Capital Holdings alleges that TD showed a “total and systemic failure” to respond to a cyber scam that cost the company more than $275,000.