Legal issues and news

FHFA Director Bill Pulte, a staunch ally of President Donald Trump, wrote a letter to Bondi and DOJ official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense.

Markel O'Neal Calhoun, a former Regions Bank employee, has been barred from ever working in the industry again after embezzling $17,981, according to the Federal Reserve.

The pandemic-era program yielded over $60 billion in fraudulent payments, with prosecutions expected for another five years.

Srini Nallasivan, who was born in India, claims in a lawsuit that the Minneapolis-based bank harassed and fired him in order to replace him with a white executive. U.S. Bank denies the accusations.

By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.

The scams are becoming increasingly harder to detect, as fraudsters mimic authentic communications from banks.

The bank teller, Khalila Cooper, embezzled $34,000 over a six-month period. She has been banned from the banking industry for her "personal dishonesty," the Fed said.

The plea marks the beginning of the end of the case over the $50 billion collapse in May 2022 of stablecoin TerraUSD.

The crypto-focused firm's OCC trust bid would shift supervision from New York to Washington at a time when regulators are signaling openness to fintechs engaging in banking

Theft of paper checks and their use in identity theft constitute a major blind spot in the private sector's fraud detection networks. Banks and regulators need to come together to find solutions.