Legal issues and news

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.

Victims of Bernard Madoff's massive Ponzi scheme will soon get another $372 million in payouts, bringing the total amount distributed from a government fund to more than $4 billion since the collapse of the fraudster's company in 2008.

Celsius Network Chief Executive Alex Mashinsky, who founded the embattled crypto startup and served as pitchman for the sky-high yields it promised to its thousands of investors, is stepping down as the company works its way through bankruptcy.

Russian billionaire Petr Aven, fighting a U.K. investigation for evading sanctions, used companies supposed to manage expenses for his luxury mansion as a personal "piggy bank," according to British authorities.

Financial institutions continue to push back against efforts to be held liable when a consumer is tricked into sending a payment that later turns out to be a scam.

A female Commerzbank manager who was described by her manager as having an "unhealthy obsession with work" won her sex discrimination claim for a second time.

The breach was quickly followed by fake text and app messages to customers that appeared to come from the challenger bank.

Some of the Revlon creditors that were accidentally sent more than $900 million by Citigroup asked a federal appeals court for a rehearing, after it ruled that they had to give the money back.

The saga over cryptocurrency regulation took another twist courtesy of a comment buried in a Securities and Exchange Commission lawsuit that hints at a case for U.S. jurisdiction over the ethereum blockchain.

A new Treasury Department request for comment invites the public to weigh in on how cryptocurrencies are used in illegal activities. It's part of the Biden administration's larger push to create a regulatory framework for digital assets.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

A federal judge found last year that a credit reporting dispute did not have to be investigated because the consumer's complaint was frivolous. The Consumer Financial Protection Bureau and the Federal Trade Commission argue that the decision undermines a key purpose of the Fair Credit Reporting Act.

The document automation company Ocrolus recently launched a new version of its fraud detection platform. Here's how it works and what other services lenders should consider.

As Treasury cracks down on DeFi, observers say merging the worlds of traditional and decentralized finance is an increasingly impossible dream.

An appeals court ruled that the electronic delivery of private information that was not made public did not constitute real harm to the consumer.

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.