Legal issues and news

Court documents reveal how a teller used the drive-through window and work email to aid a scheme that bypassed TD's fraud defenses.

Prosecutors argued the 23-year-old courier knew he was aiding criminals, citing texts about "gold rushing" and scammer videos on his phone.

A Delaware judge denied HoldCo Asset Management's emergency motion for a temporary restraining order to stop the deal from closing. Fifth Third plans to complete its purchase on Feb. 1.

TD Bank's Ruchira Ghosh, Northwest Bank's John Fick and Visa's Hector Rodriguez, with moderation by American Banker's Penny Crosman

Eightfold AI, which many companies use as they screen job candidates, is being accused of gathering information about applicants without their consent. The lawsuit also alleges that the company uses an algorithm to judge candidates without explaining how it works.

As the Trump administration signals interest in reforming AML regulations, the industry must come together in support of new rules that promote efficiency and effectiveness in the fight against financial crime.

President Donald Trump's recently filed lawsuit against megabank JPMorganChase and its CEO Jamie Dimon is not expected to succeed in court, legal experts say.

TD Bank has said it's completed "the majority" of the action items for its U.S. compliance remediation.

Mortgage borrowers filed a third amended class action complaint against the bank over modification issues from 2010 to 2015.

The lawsuit, filed Thursday in Florida state court, alleges that the lender stopped offering banking services to Donald Trump and his businesses for political reasons.

The regional bank recorded $130 million of legal charges during the fourth quarter in connection with the resolution of a legal battle involving overdraft fees. Its earnings also took a hit from $63 million in employee severance costs.

The collapse of the illicit escrow marketplace disrupts a major hub for "pig butchering" scams, though experts warn the ecosystem will likely fragment.

The Supreme Court Wednesday appeared skeptical of the Justice Department's argument that removal of a Federal Reserve governor is unreviewable or that the president's preference for Fed governors outweighs the harm to the Fed from curbing the central bank's political independence.

The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.

A New Jersey courier scam highlights the severe liability risks consumers face when using debit cards compared to credit cards.

Defenses against financial schemes, both physical and digital, could leave executives scrambling to keep up with the pace of bad actors over the coming months.

The Federal Reserve announced it had approved the merger, marking the final regulatory hurdle the banks needed to clear. But a lawsuit seeking to stop the deal is still ongoing.

Research from American Banker finds that bankers are still extremely worried about fraud, but hope that raising budgets for artificial intelligence could help.

San Diego County Credit Union and California Coast Credit Union, which last year announced plans to merge, are now duking it out in court. SDCCU alleges there are widespread compliance problems at Cal Coast, which Cal Coast denies.

Acting CFPB Director Russell Vought agreed to request $145 million in funding from the Federal Reserve, yielding to a court order to avoid a contempt citation.