Lawsuits

Federal prosecutors say Menendez, a New Jersey Democrat who sits on the Senate Banking Committee, accepted bribes in return for exerting political influence — including helping Fred Daibes, a small-bank executive who had been accused of loan fraud.

The managers of the bankrupt crypto exchange FTX sued the parents of co-founder and former CEO Sam Bankman-Fried to "recover millions of dollars in fraudulently transferred and misappropriated funds," according to a court filing.

The ruling comes in a lawsuit New York Attorney General Letitia James filed in 2020, claiming Jonathan Braun and others made thousands of merchant cash advances to small businesses, charged annualized interest that sometimes exceeded 1,000% and defrauded and harassed borrowers. 

Comerica CEO Curt Farmer and CFO James Herzog as well as the company itself face a purported class action by shareholders for allegedly making false and misleading statements about the Dallas company's oversight of the Treasury Department's Direct Express program.

The decision by the 2nd U.S. Circuit Court of Appeals in Manhattan came in a securities fraud lawsuit brought by a trustee for note purchasers in a 2014 syndicated loan deal led by JPMorgan Chase.

The verdict ends a decade-long lawsuit over the Federal Housing Finance Agency's amendment to a stock repurchase agreement in 2012.

The U.S. government wants to intervene in JPMorgan Chase's fraud lawsuit against Frank founder Charlie Javice, asking a federal judge to halt pretrial information exchanges until she has been tried on criminal charges. 

JPMorgan Chase, Barclays, Citigroup and others will face a class-action suit over allegations of foreign exchange manipulation. 

With no settlement in sight, Spencer Savings Bank's case against a group of former depositors it says conspired with Larry Seidman to force a conversion appears headed for a courtroom battle.

Management, in exchange, has agreed to assist company lawyers in potentially lucrative actions against firms they blame for BlockFi's collapse including FTX and failed crypto hedge-fund Three Arrows Capital.

Mass arbitration is a fact of life in modern consumer finance litigation. Those hoping it will go away through court decisions or legislative change are primed to be sorely disappointed.

The company directed its bilingual team to steer customers away from products with no closing costs toward "predatory lending options" without disclosing the costs, in part by refusing to provide Spanish-language written materials, according to a lawsuit filed by current and former members of the company's bilingual mortgage sales team.

Investors will get the chance to fill three director seats at the Philadelphia company, which last held an annual meeting in April 2021 and has been embroiled in a legal fight with a shareholder group.

A former employee of The Change Company, which is the largest non-traditional mortgage lender in the U.S., claims in a new lawsuit that the firm mischaracterized the race, ethnicity and income of its borrowers. The company says the allegations, which relate to the representations it makes to be certified as a community development financial institution, are meritless.

Javice has asked a Delaware federal judge overseeing JPMorgan's fraud lawsuit against her to allow her to demand documents from the bank and firms that advised it on the $175 million acquisition of her college loan planning site.

Investors argues in suit that Jamie Dimon and other executives risked the bank's reputation in their dealings with the disgraced financier.

Goldman Sachs Group is in talks to settle a high-profile lawsuit alleging gender pay disparity, ahead of going to trial next month, according to people with knowledge of the matter.

The bank's decision to allow former boss Jes Staley to leave on good terms is under fresh scrutiny as several U.S. legal cases reveal new details of his interactions with Jeffrey Epstein.

A federal judge allowed a Jeffrey Epstein victim to proceed with a claim that the banks knowingly benefited from Epstein's sex trafficking by providing him with financial services. But the judge dismissed the top counts in two suits.

JPMorgan Chase pushed back on allegations that its former executive Jes Staley "personally observed" Jeffrey Epstein's abuse, calling them "unsupported" and "conclusory."