Legal issues and news

A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.

Investors claim JPMorganChase collected fees while ignoring suspicious transfers linked to a $328 million crypto Ponzi scheme.

Dynasty accuses Merrill of acting in distorting the court record in its attempt to force a dispute over a giant breakaway team before FINRA arbitrators.

A new report from the Consumer Federation of America says the true cost of online scams is an estimated $119 billion per year; Associated Banc-Corp moves forward with its planned acquisition of family owned American National; Servbank HoldCo completes its acquisition of IF Bancorp; and more in this week's banking news roundup.

David Szuchman, PayPal's top cop, leverages his background in law enforcement, including years in the Manhattan district attorney's office, to help the fintech fight against payment crooks.

Before holding financial institutions accountable for new regulatory expectations, clearer guidance is needed on what constitutes appropriate risk-based decision-making versus impermissible "debanking."

One way for credit unions to remain competitive is to control their own data; and Iran is fighting an economic war.

A threat that was probabilistic is now official. An Iranian military spokesperson warned of a "painful response" against U.S.-linked banks.

The war may put a damper on bank mergers; and financial crime has become a global industry -- a big global industry

The Swiss bank turned to a federal judge to mediate its dispute with a Jewish human rights group, but the two sides left the courtroom in deadlock.

Criminals are using AI and professional crime networks to scale attacks, yielding massive operational risks for banks, according to a new report from Nasdaq.

In a sternly written footnote, federal Judge Steven Merryday said the SEC's refusal to release information on its penalty calculations appears to "countenance duplicity, gamesmanship, neglect, insouciance" or worse.

Civil rights groups object to a $68 million settlement between the Department of Justice and Colony Ridge Development in Texas, calling the deal a sham because it funnels $20 million into immigration enforcement and surveillance of victims.

The Beaver State is poised to opt out of a federal law that poked a hole in its interest rate cap, joining a growing list of states to reassert their authority over consumer loan rates.

A House subcommittee debated new legislation to improve bank data sharing and slow down transactions to thwart sophisticated financial scams.

Cybercriminals say they stole sensitive records by exploiting an unpatched vulnerability known as React2Shell and using the password Lexis1234.

The Phoenix-based bank said that affiliates of Jefferies had stayed current on the loan agreement until last week. The suit is the latest example of private credit-related problems at banks.

Romance scams and other "pig butchering" frauds are growing rapidly. Should banks refund the stolen money? Not all agree on the answer to that question.

Five major U.S. banks are engaging in costly litigation rather than reimburse fraud claims of a 72-year-old dementia patient who lost $337,000 in a romance scam. The victim's lawyer says banks are not abiding by the consumer protection process.

The Financial Crimes Enforcement Network's expectations of banks that file suspicious activity reports have changed. Some banking clients may soon discover that they are less appealing customers than they used to be.