Legal issues and news

Scams against the elderly are responsible for more than $3 billion in losses each year, according to the Federal Bureau of Investigation. Credit unions say they are seeing more cases, and often the hardest part is getting the victims to admit they've been taken advantage of.

The Canadian-owned bank vowed to appeal the large verdict, which illustrated the risks that banks take on when they shoulder the liabilities of companies they acquire.

UBS Group's Frankfurt and Munich offices are being searched by prosecutors as part of a money laundering investigation linked to the sanctioned Russian oligarch Alisher Usmanov, people familiar with the probe said. 

JPMorgan Chase agreed to settle a dispute with a London trader it fired during a spoofing probe and then refused to rehire after a judge said the investment bank had to give him his job back.

Both sides in the litigation over 2012 Federal Housing Finance Agency amendments to stock purchase agreements say they're weighing their options.

Deutsche Bank was told by the German financial watchdog BaFin that it must fix its controls within given deadlines if it wants to avoid a financial punishment.

The central bank terminated a cease-and-desist order issued against the Agricultural Bank of China and its New York branch in 2016 for breaking anti-money-laundering rules.

Some 16 million applications for student debt relief will be approved by this week, provided the White House plan survives court challenges, President Biden said Thursday. 

The Minneapolis bank disclosed the investigation four months after the Consumer Financial Protection Bureau reached a settlement with Bank of America over the distribution of unemployment insurance benefits on prepaid debit cards.

Following the verdict, the student-loan servicer could potentially owe Louis Beryl more than $4.4 million in severance money. Navient fired Beryl less than three months after acquiring Earnest, the student loan refinancing company that he co-founded.

U.S. Supreme Court justices questioned the legality of stiff penalties the federal government says it can impose on people who fail to file required reports listing their foreign bank accounts.

The increases may simply reflect better detection and reporting, but banks continue to facilitate large ransom payments to sanctioned individuals.

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

An ex-Deutsche Bank precious-metals trader has asked the U.S. Supreme Court to overturn his conviction for manipulating gold and silver prices with fake "spoof" trade orders.

Custodia's lawsuit with the Federal Reserve over master account access is poised to advance to trial. Regardless of the outcome, the case will be consequential.

The agreement, which still needs court approval, should help what remains of the online small-business lender as it moves through bankruptcy proceedings. After Kabbage emerged as a major Paycheck Protection Program lender, some of its key assets were sold to American Express.

A Justice Department probe into a controversial corner of the crypto world — Tether — has been struggling to reach a conclusion. Now a new team is taking a crack at investigating whether executives behind the popular stablecoin committed a crime.

Tom Hayes, the former UBS Group trader convicted in the U.K. over the Libor-rigging scandal, had a criminal indictment against him dismissed by a New York judge.

An appeals court ruling last week found that the Consumer Financial Protection Bureau's funding structure violates the Constitution, but another court filing shows how the agency might fight back.

A former Deutsche Bank credit trader laid off when the lender closed down its bad bank has sued the company in London, saying she was denied hundreds of thousands of pounds in bonuses.