Legal issues and news

Alphv developers claimed responsibility for an attack that started last week against the payments and digital banking software maker. The ransomware is more sophisticated than many of its peers.

The head of the Council of Federal Home Loan Banks argues that the special lien status of Home Loan bank advances, created by legislation in the 1980s, is largely irrelevant in today's marketplace.

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.

Billions were lost to fraud during PPP. Now, prosecutors are increasing efforts to recoup taxpayer money, leaving lenders worried they could be put under the microscope next.

As customers rushed to withdraw their deposits from the bank and applied for accounts at other institutions, criminals took advantage of the chaos.

The world's largest retailer sued Capital One over their four-year-old credit card partnership, saying the bank failed to meet customer service standards. The McLean, Virginia-based bank disputed the allegations, and analysts said that the firm could compensate by landing new credit card partnerships or cutting back on marketing expenses.

The founder of the defunct fintech that provided online college financial aid services was charged with fraud for inflating the company's customer base ahead of being acquired by JPMorgan.

A federal appeals court ruled in favor of the Consumer Financial Protection Bureau, setting up a court split ahead of a highly anticipated Supreme Court hearing in October. The Fifth Circuit previously ruled that the agency's funding mechanism violates the Constitution's separation of powers doctrine.

On Thursday, a ransomware group published data apparently stolen from Tri Counties Bank, which suffered an outage to its ATM network last month.

Carrie Tolstedt, the former head of retail banking at the scandal-plagued bank, faces 16 months in prison after agreeing to plead guilty to obstructing a bank examination. The plea agreement serves as a warning to senior bank executives who regularly provide information to regulators.

The group behind the ongoing campaign allegedly has the support of a hosting provider that's complicit in helping spin-up new scam websites.

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.

Properly executed, the new anti-money-laundering program has the potential to cripple laundering networks by altering the landscape for financial services professionals.

Tolstedt, a key figure in the bank's fake-accounts scandal, could face prison time after pleading guilty to a criminal charge of obstructing a bank examination. She also agreed to pay a $17 million fine to bank regulators to resolve certain civil charges.

Old-fashioned check fraud is growing, and fraudsters find people to cash their checks — and tell them what to wear while doing it — through a popular messaging service.

JPMorgan Chase is suing the former executive to hold him responsible for any damages stemming from lawsuits accusing the bank of facilitating Jeffrey Epstein's sex-trafficking.

The San Francisco fintech made its name in refinancing student loans. Now it contends that a moratorium for federal student debt payments — put in place near the start of the pandemic — has cost it at least $150 million in profits.

The Ohio-based bank concentrated most of its lending branches in majority-white neighborhoods and did nothing to compensate for its lack of physical presence, the DOJ claims.

The only way for Fincen to assure that banks have the tools to identify illicit shell companies is for the agency to verify the information in its new beneficial ownership database.

Consumer Financial Protection Bureau Director Rohit Chopra says the bureau is continuing with its enforcement agenda and that financial firms face risks from the Supreme Court case.