Legal issues and news

Citigroup persuaded a federal appeals court to force a group of Revlon creditors to return more than half a billion dollars it accidentally sent them.

Bank of America is facing off in court with the bond insurer Ambac Financial Group in a $2.7 billion case that's one of its last legal hangovers from the subprime crisis.

Celsius Network, the bankrupt cryptocurrency lender, may have hidden its financial trouble from its investors and "engaged in improper manipulation of the price" of the platform's tokens to boost the company's balance sheet and financials, according to a new court filing.

After the Office of the Comptroller of the Currency cracked down on a $2.8 billion-asset bank, industry observers expect more scrutiny of the ties between banks and financial technology startups.

It remains to be seen what the capped price for Russian oil will be or whether the move will stabilize world energy prices.

Executives at Canadian Imperial Bank of Commerce's London office kept a book full of "sexually suggestive comments" about women for a decade, in the latest employment tribunal case to shine a light on banking's sexist culture. 

Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.

The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.

Celsius Network, the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts. 

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.