Legal issues and news

Many experts think the Consumer Financial Protection Bureau's funding through the Federal Reserve could be the fatal flaw in the Dodd-Frank Act that created the agency, but differentiating the CFPB's structure from others may be tricky.

Customer outflows from Binance's cryptocurrency trading platform are slowing, according to blockchain data from two digital-asset analytics firms.

Sam Bankman-Fried's trading house Alameda Research had a secret speed advantage when executing orders on his now-collapsed FTX crypto exchange, according to the Commodity Futures Trading Commission.

The Wyoming-based digital-asset bank wants more information about why a decision on its two-year-old application for a master account has been delayed. But U.S. District Judge Scott Skavdahl ruled that the central bank won't have to turn over everything Custodia sought.

Danske Bank A/S admitted to fraud and agreed to forfeit $2 billion to end a long-running U.S. probe into money laundering at its Estonia branch, an embarrassing episode that led to the ouster of top management and pushed thousands of customers to leave.

Hanno Berger, a German lawyer dubbed the mastermind of Cum-Ex, was sentenced to eight years in prison for his role in part of a sprawling tax scandal that's robbed billions of euros from government coffers and embroiled some of Wall Street's biggest names

The central bank's governing body said a limited disclosure would satisfy its obligations under administrative law. The Kansas City Fed, meanwhile, would be subject to full discovery.

The U.S. Supreme Court expanded a planned showdown over President Biden's student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.

At least $73 million of political donations tied to Sam Bankman-Fried's FTX may be at risk of being clawed back as bankruptcy lawyers sort through the remnants of his crypto empire in search of assets to repay creditors.

The U.S. Supreme Court agreed to consider a Coinbase Global appeal over a user lawsuit in a case that could bolster the ability of companies to channel customer and employee disputes into arbitration.

Former JPMorgan Chase gold and silver trader Christopher Jordan was convicted of wire fraud affecting a financial institution by a federal jury in Chicago, the latest win for U.S. prosecutors in their crackdown on illegal "spoofing" trades and market manipulation.

Sam Bankman-Fried missed the deadline set by a U.S. Senate committee for a response to a request to testify at a Dec. 14 hearing about FTX's collapse into bankruptcy.

Santander UK was fined £108 million ($132 million) by the U.K. financial watchdog over repeated anti-money-laundering failures that included a series of missteps over its monitoring of hundreds of millions of pounds of suspicious funds.

Citing a congressional report, SBA says it will investigate PPP operations at several fintechs, community banks and other participants. The review raises questions about plans to open up the agency's flagship loan-guarantee program to more nonbanks.

Publicly traded companies exposed to the "crypto winter" and the collapse of FTX or other digital-asset companies might have to disclose those details to investors under new guidance from the Securities and Exchange Commission.

FTX's new chief executive and bankruptcy lawyers met with Manhattan federal prosecutors investigating the cryptocurrency exchange's collapse and allegations that it misused customer funds and lost billions of dollars, according to people familiar with the matter.

Markus Braun makes his first public appearance in court on Thursday, more than two years after his highflying digital-payment company Wirecard collapsed under the weight of fraud allegations.

U.S. Sens. Sherrod Brown and Patrick Toomey have asked Sam Bankman-Fried to testify at a hearing on Dec. 14 about the cryptocurrency exchange FTX's collapse, according to a letter issued Wednesday.

Galaxy Digital is paying $44.1 million to buy Celsius Network's GK8 business — more than 60% lower than what the bankrupt crypto lender paid to acquire the self-custody platform just last year.

The bankrupt cryptocurrency lender Celsius Network won court approval to give out bonuses totaling as much as $2.8 million to workers in a bid to keep them from quitting.