- Finance and investment-related court cases
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.
February 21
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Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.
February 21
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The bank could announce as early as Friday a deal on charges it wronged customers; the acquisition allows Morgan Stanley to compete in retail banking.
February 21
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The credit union regulator's portfolio sale dashed the hopes of a group of New York taxi drivers looking for relief.
February 20
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Fraud prevention provider Kount is strengthening its artificial intelligence-powered Identity Trust Global Network with software for determining how long email addresses have been in use.
February 20 -
The Bank of England issued a new polymer £20 note into general circulation at a time when consumers are increasingly eschewing cash in favor of digital payments.
February 20
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Fending off these kinds of attacks requires training personnel on a strict process for validating suppliers' banking data during supplier onboarding, especially when receiving any data change requests, says Noicepay's Doug Seaberg.
February 20
Nvoicepay -
An inspector general's report found that CBS Employees FCU failed to segregate key duties.
February 19
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New messaging protocols calls can meet crooks at the pass, says FIME's Jean Fang.
February 19
Fime -
A Denver company says that the $410 billion-asset bank used its confidential information to create a copycat product and poach its customers. PNC is contesting the allegations.
February 17
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Hanover Bancorp is facing a proxy battle after its CFO and two other bankers bolted to a rival.
February 14
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A 2019 report from the Federal Trade Commission shows consumer losses to “romance scams” rose more than 300% between 2015 and 2018. Credit union leaders say the real numbers may be much worse.
February 14
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To appease regulators, challenger banks looking to service crypto businesses can implement effective AML controls and systems, says Fenergo's Rachel Woolley.
February 14
Fenergo -
For the second time in four years regulators are investigating Jes Staley; fintechs have until July 30 to sign agreements on how they access customer data.
February 14
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New regulations and fraud threats are accumulating, and payment firms need to keep up, says Semafone's Gary E. Barnett.
February 14
Semafone -
The North Carolina-based credit union hopes an injunction will prevent further use of that branding until a trademark infringement suit is settled.
February 13
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The three cease and desist orders and one written agreement had cited separate concerns at JPMorgan Chase, Discover, Deutsche Bank and RBS.
February 13
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It can be hard to spot insider fraud, duplicate invoices and service glitches by hand, says AppZen's Anant Kale.
February 13
AppZen -
Despite advances in anti-fraud technology, scams remain a major problem for the energy industry, as criminals continue to exploit vulnerabilities present within the current system.
February 13
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Wells is thought to be the first big U.S. bank to allow harassment victims to go to court instead of arbitration. An investment firm that advocates for progressive causes claimed credit for the policy change.
February 12
