Lawsuits

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.

The San Francisco data aggregator has committed to minimizing how much data it extracts from bank accounts.

The agreement will likely end a three-year-old dispute over allegations that the company misled borrowers by promising no hidden fees on its consumer loans.

Bank of America was ordered by a judge to change its practices after thousands of unemployed California customers receiving public benefits complained that when their prepaid debit cards were hacked, the bank made matters worse by treating them like criminals.

A New York court ordered the freezing of $560 million in assets held by entities controlled by Renren CEO Joseph Chen, Softbank Group and others, an amount pegged to a stake in the personal finance startup Social Finance, which is slated for a blank-check merger this week.

Malaysia’s 1MDB and a former unit have filed suits against firms including JPMorgan Chase and Deutsche Bank as the nation seeks to recover assets worth more than $23 billion linked to the scandal-plagued state-owned investment fund.

JPMorgan Chase was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totaled $875 million to a former Nigerian oil minister.

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.