Legal issues and news

Cybercriminals say they stole sensitive records by exploiting an unpatched vulnerability known as React2Shell and using the password Lexis1234.

The Phoenix-based bank said that affiliates of Jefferies had stayed current on the loan agreement until last week. The suit is the latest example of private credit-related problems at banks.

Romance scams and other "pig butchering" frauds are growing rapidly. Should banks refund the stolen money? Not all agree on the answer to that question.

Five major U.S. banks are engaging in costly litigation rather than reimburse fraud claims of a 72-year-old dementia patient who lost $337,000 in a romance scam. The victim's lawyer says banks are not abiding by the consumer protection process.

The Financial Crimes Enforcement Network's expectations of banks that file suspicious activity reports have changed. Some banking clients may soon discover that they are less appealing customers than they used to be.

The Supreme Court slammed the door on CashCall's final appeal, cementing a massive win for the Consumer Financial Protection Bureau after a 12-year legal marathon.

U.S. banks are bracing for retaliatory cyberattacks following military strikes in Iran that killed Ayatollah Ali Khamenei.

The responsible gathering of data on consumers is intrinsic to the verification tools that keep everyone safe from identity theft and other forms of fraud. Blanket attacks on "data brokers" will harm consumers, not help them.

Preferred Bank moved a $115 million block of loans to nonaccrual status after the borrower, which is battling fraud charges leveled by other banks, began missing payments.

Experts said that judges reviewing ongoing litigation between the Consumer Financial Protection Bureau and its employee union seem inclined to allow reductions in force to proceed if the CFPB presented a credible plan for running the agency.

Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.

Credit One Bank agreed to a $10.2 million settlement after almost five years of litigation with a group of California district attorneys. The suit alleged that the bank's vendors made harassing phone calls to borrowers.

Hackers used stolen credentials to access the French FICOBA database, exposing names and account numbers but failing to access funds directly.

The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.

As geopolitical threats loom, the U.S. needs a better-coordinated AML strategy. The Treasury Department's Financial Crimes Enforcement Network should take the lead in implementing needed reforms.

After a federal judge allowed a new state law to ban interchange fees on taxes and tips, a coalition of banks and credit unions struck back.

Treasury Secretary Scott Bessent said in a public appearance in Dallas Friday that the administration will seek alternative means of enacting the White House's tariff agenda after the Supreme Court struck down the tariffs as outside the bounds of the law.

The relevant Florida statute does not permit President Donald Trump's allegation that JPMorganChase CEO Jamie Dimon directed the bank to put Trump and his businesses on a "blacklist," the bank said in a legal filing.

The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.

New York Attorney General Letitia James warns that scammers are coaching victims to bypass bank security and using "second act" schemes to steal more.