Legal issues and news

Citigroup has won part of its appeal in a discrimination suit brought by a former banker who was laid off after being called “old” at the age of 55.

As Celsius Network’s customer withdrawal freeze enters a full month, the beleaguered crypto lender has paid back a string of debts totaling more than $900 million during the same period to decentralized-finance platforms. 

Searching Google for information about student loan forgiveness surfaces advertisements that either appear to violate content policies or lead people to scams, according to a watchdog group, increasing public confusion as the Biden administration mulls actions on student debt.

The technology billionaire Romesh Wadhwani’s artificial intelligence software company agreed to buy BAE Systems' financial crime detection business, NetReveal.

Securities regulators in Texas and Alabama are expanding their investigations into Voyager Digital and Celsius Network to account for new information arising from the implosions of the two crypto-lending firms. 

After the Supreme Court struck down an Environmental Protection Agency rule, legal observers are wondering how far the justices will go to rein in the authority of financial regulators. A Securities and Exchange Commission proposal on climate risk disclosures could become a test case.

U.S. senators led by Democrats Bob Menendez, Elizabeth Warren and Jack Reed told seven of the country’s biggest banks they must do more for consumers defrauded by scammers on Zelle, the person-to-person payments network the firms jointly own.

The Department of Justice is prosecuting ex-JPMorgan Chase bankers under federal racketeering law, a move public interest advocates hope could lead to more accountability for financial firms.

Authentic Brands Group, which owns and licenses brands like Forever 21, has settled its lawsuit against Bolt Financial. The agreement ends months of legal wrangling between the troubled payments startup and its largest active customer, which had claimed that Bolt’s technology was faulty. 

An independent investigation found no evidence of a pact with Wells Fargo’s attorney but omitted mention of the other big questions emanating from the case.