Legal issues and news

An uptick in so-called operating losses helped drive up noninterest expenses excluding M&A costs at Truist Financial by 2% year over year, complicating its efforts to achieve positive operating leverage. The cost of reimbursing customers hurt by fraud seems to have been a contributing factor.

JPMorgan Chase must face a lawsuit from a former trader who claims he was fired in retaliation for cooperating with U.S. prosecutors investigating illegal spoof trades at the bank's precious-metals trading business, a federal judge in New York ruled.

The crypto lender Voyager Digital is pursuing settlements with two top executives after an internal probe uncovered potential claims of gross negligence stemming from risky loans made to the defunct hedge fund Three Arrows Capital, court papers show.

A former Deutsche Bank managing director said she was put up for redundancy purely because of her age and gender, just as executives in London feared the COVID pandemic would hit lending to the bank's wealthy clients.

An ex-Goldman Sachs Group banker sued the investment bank for around £20.3 million ($22.9 million) to make up for his losing his job after he made whistleblowing allegations about regulatory failures.

Robinhood Markets is poised to succeed in pushing a female former engineer's claims about a "toxic culture of gender bias" at the company out of open court and into private arbitration.

U.S. prosecutors and several federal regulators are seeking information from the bankrupt crypto lender Celsius Network.

ING said it is aware of the Payvision probe but is not itself a subject of this investigation.

Voyager Digital Ltd. creditors are taking issue with plans to provide the crypto lender's directors and officers with immunity from lawsuits tied to its descent into bankruptcy. 

The U.S. Treasury Department faces a second lawsuit over its August decision to sanction Tornado Cash, a crypto-mixing service that obscures sources of coin transactions. 

Labor costs constitute a major piece of banks' spending on preventing financial crimes despite technological advancements, and costs are leveling off despite new legislation. Here's why.

Some of the Revlon creditors who were accidentally sent more than $900 million by Citigroup were denied a bid for a wider review of an appeals court ruling that they had to give the money back.

Minority farmers who sought to take advantage of a U.S. debt-assistance program claim in a lawsuit that the government failed to provide any of the promised relief and reneged on a deal to resolve their discrimination claims.

Top executives at the bankrupt crypto lender Celsius Network withdrew at least $30 million of cryptocurrencies in the month before suspending customer withdrawals from the platform, court documents show.

Sexual assaults, lurid propositions and a sex tape pack the latest filings in a class action against Goldman Sachs. But it's a boss's comment about his assistant's engagement ring two decades ago and a woman who complained an executive checked her out that have set off an especially bitter dispute in the case.

While the Financial Crimes Enforcement Network has finalized some Corporate Transparency Act rules, the timetable is unclear for regulations involving customer due diligence or database access for banks.

KServicing, a SoftBank-backed small-business loan servicer, filed for bankruptcy after the company, which holds old loans made by the online lender Kabbage, was weighed down by allegations of overly lax lending under the U.S. government's Paycheck Protection Program.

A criminal group called Prilex has stolen millions in a scheme involving fake repair people installing malware on point of sale terminals.

When local prosecutors in Los Angeles investigated fake accounts at the San Francisco bank, they were hampered by a provision of state law that prevented them from issuing subpoenas before filing suit. That problem has been remedied under legislation signed by Gov. Gavin Newsom.

The Biden administration was accused in a lawsuit by six Republican-led states of overstepping its authority with a plan to forgive federal student loans.