Lawsuits

The Consumer Financial Protection Bureau sued Walmart and payment app Branch Messenger, accusing them of illegally opening 1 million deposit accounts and charging $10 million in fees. Branch said the agency refused to engage in any meaningful way about the matter.

The Consumer Financial Protection Bureau has asked a Texas court to halt Comerica Bank's practices.

Nicholas Takahashi and his team are accused of deliberately trying to poach the clients of a former colleague managing hundreds of millions in assets and producing more than $1 million a year in revenue.

The case is one of the latest to question if firms can be held liable for costly investment decisions made by clients showing signs of mental decline.

The latest lawsuit accuses the firm of not only failing to look out for clients' best interests but also failing to secure "reasonable returns" on money held in retirement accounts.

Diane Offereins retired from a top job last year amid scrutiny of the card network's charges to merchants. Now she's suing Discover over its decision to cancel unvested stock worth $7 million.

The wealth management giants join their rivals Wells Fargo, Morgan Stanley, UBS, LPL Financial and Ameriprise in being accused of using uninvested cash in advisory accounts to boost their bottom lines rather than benefit clients.

A female employee is now suing ICAP and Citigroup, alleging she was subjected to years of unwanted sexual attention and threats by a Citi trader.

Mixed earnings results at Wells Fargo and the ongoing merger proposal between Discover Financial Services and Capital One Financial are creating added pressure for investors.

"Don't fight the Fed" is the mantra of investors. But, when the Fed does not allow banks to meet the needs of their communities and shareholders through unfair regulations, like the politically motivated CRA final rule, bankers have no choice but to go to court to seek regulatory justice.

The lawsuit against the Consumer Financial Protection Bureau was filed just two days after the bureau finalized a rule to cut credit card late fees to $8 from $32.

A lawyer says the industry has been on notice at least since the "Boom Boom Room" scandal of the 1980s that hostile workplaces won't be tolerated.

Retail tycoon Mike Ashley says his lawsuit against Morgan Stanley is in part because the bank acted out of "snobbery."

Community Bank System in Syracuse faced claims it failed to properly pay some branch-level employees, making it one of a growing number of banks forced to confront compensation-related disputes in recent months.

At the heart of Ardith Lindsey's Nov. 20 lawsuit are allegations that Mani Singh, another Citigroup managing director who was always more senior than her, coerced her into an abusive relationship and threatened her and her family with violence after she ended it in October 2022.

Carter Bankshares in Martinsville, Virginia, is attempting to exit a longstanding relationship with West Virginia Gov. Jim Justice through a seldom-used collections tool that was at the center of a court hearing this week.

A London court handed a big win to Deutsche Bank and other creditors holding obscure notes issued by Lehman Brothers before its collapse.

Federal reports have sharply limited the kind of plaintiffs who can prove they have standing to sue financial institutions under the Fair Credit Reporting Act.

A sweeping class-action suit in Miami federal court by investors who claim they lost billions in the collapse of FTX and seek to pin blame not just on Bankman-Fried and his inner circle, but also on celebrities who were paid to endorse it to the masses, as well as bankers, accountants and lawyers who propped up the empire's legitimacy.

His lawyers characterize him as a math nerd and not a criminal, but the mountain of evidence presented during his trial makes it hard to see him as innocent.