Legal issues and news

Executives at Canadian Imperial Bank of Commerce's London office kept a book full of "sexually suggestive comments" about women for a decade, in the latest employment tribunal case to shine a light on banking's sexist culture. 

Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.

The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.

Celsius Network, the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts. 

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

A decade ago, Think Finance partnered with Native American tribes in an effort to avoid state interest-rate caps on consumer loans. After the company's legal woes finally ended this month, court documents shed light on its rapid rise and steep fall.

Banks have long lamented the lack of transparency surrounding the government's use of suspicious activity reports, which are submitted to Fincen and passed along to the department.

A fired employee of Royal Bank of Canada was charged with cyberstalking and making death threats against at least four female ex-colleagues.

The state's disclosure laws generated data that indicated millions of consumers had their personal details potentially compromised.

Former Goldman banker Brijesh Goel was arrested last month for insider trading. His friend, ex-Barclays trader Akshay Niranjan, is "co-conspirator 1" in the criminal complaint against Goel, and the man who turned on his buddy, according to people familiar with the matter.

Voyager Digital won a bankruptcy judge's permission to pay $1.6 million in bonuses to employees deemed critical to the insolvent crypto lender's future.

A data breach in 2022 costs companies $4.35 million on average, an all-time high according to IBM research.

A former money manager for Celsius Network deceived the company about his investing abilities and lost or stole tens of millions of dollars in assets, the bankrupt crypto lender alleged in a lawsuit Tuesday.

Wells Fargo bungled the 2020 sale of Occidental Petroleum shares on behalf of an employee trust, leading to millions of dollars in losses when the bank failed to execute trades as planned before the COVID-19 pandemic tanked the stock market, a judge in Texas ruled.

Citigroup has sued Revlon in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million to the cosmetics giant's lenders and intensified after Revlon filed for bankruptcy.

The remittance provider claims the Consumer Financial Protection Bureau worked to ensure it could file the case in a venue that would be more receptive to its claims.

FleetCor Technologies' CEO successfully pitched small businesses on "a better way to pay" for gas, making himself a billionaire in the process. But that success was built in part on falsely advertised rebates, concealed transactions fees and a host of other unfair practices, a federal judge ruled.

The federal jury acquitted a third defendant, a salesman on the desk who was accused of participating in the conspiracy.