Legal issues and news

Victor Ngo, 33, has pleaded guilty to making a false statement to JPMorgan Chase when he said his medical marijuana dispensary was a wellness and fitness company.

An opponent of affirmative action is challenging the U.S. Securities and Exchange Commission’s approval of a rule to get more women and minorities on the boards of companies trading on Nasdaq.

Fintechs were almost five times more likely than traditional lenders to be involved with suspicious loans issued through the U.S. government’s Paycheck Protection Program, according to a new study.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

The card network is bringing Verizon into its innovation lab to turn more phones into payment acceptance devices and use the growing number of consumer gadgets and digital assistants to better verify consumer identities.

Online attacks on travel and other nonfinancial industries grew at a much faster rate in the second quarter than those on financial services companies. Yet hackers pose considerable risk to banks and credit unions, especially in payments.

Moore Capital Holdings alleges that TD showed a “total and systemic failure” to respond to a cyber scam that cost the company more than $275,000.

Banks are traditionally the target of anti-money-laundering regulations and law enforcement’s efforts to crack down on illicit finance. As the cryptocurrency sector grows, policymakers may subject it to customer identification requirements and other measures, analysts say.

The San Francisco data aggregator has committed to minimizing how much data it extracts from bank accounts.

Companies like Arkose Labs say they're so confident in their ability to deter the attacks — automated attempts to break into online banking sites using stolen usernames and passwords — that they can offer banks a warranty.