Legal issues and news

The Securities and Exchange Commission sanctioned Citigroup because of unauthorized proprietary trading as well as for the failure to detect suspect loans issued by its Banamex unit.

The board chair for CoastHills Credit Union says a wrongful termination suit by ousted CEO Jeff York is full of "false allegations," and that the credit union acted in the "best interests" of members.

The investors initially won the right to sue as a group in 2015 before an appeals court reversed the ruling; the $13 billion lawsuit can now proceed as a class action.

Paul Manafort turned to Jared Kushner for help in an attempt to secure a Trump administration job for a Chicago banker at the center of Manafort’s fraud trial.

After being fired earlier this year, former CEO Jeff York says in legal action he was let go without cause, prior to end of contract term.

Concern over Exobot is spreading beyond banking and across other sectors where customers regularly transact online, from e-commerce and retail to health care, writes Don Duncan, security engineer for NuData Security.

The bank continues to battle a series of negative headlines such as erroneous foreclosures, but public and investor reaction has been muted.

Steve Calk, the head of The Federal Savings Bank, was a "co-conspirator" in an effort to defraud the Chicago bank, a prosecutor said at the trial of former Trump campaign chair Paul Manafort. Could Calk be charged with a crime?

The agency's settlement with Robert Moseley Sr. and Robert Moseley Jr. was enforced by the U.S. District Court for the Western District of Missouri.

Stephen Calk, the CEO of The Federal Savings Bank, expedited approval of a mortgage to the onetime Trump campaign chair in hopes of winning a job as Treasury secretary or housing secretary, a former bank employee testified Friday.

The bureau is expected to choose an option that could trigger court challenges after a judge yet again refused to halt the rule’s compliance date.

The funds have brought in record amounts thanks to lowered fees and more salespeople; ex-Goldman managing director says in suit he was blamed for trades.

Credit unions urged to review expense and reimbursement policies, and board oversight of top executives.

Bci Miami is one of the first banks in the U.S. to publicly acknowledge using AI this way, when many still consider the technology to be new, risky and unsanctioned by regulators.

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

U.S. authorities are forced to take action on some shady dealings up north; the Systemic Risk Council says weaker capital rules could deflate bank equity.

Real-time graph technology and analytics offer a rare opportunity to revolutionize the entire field of AML in banking and financial services. It will become the industry best practice in the near future and may well become part of the regulatory expectations, according to Gaurav Deshpande, vice president of marketing at TigerGraph.

In alleging former CEO Alan Kaufman breached his fiduciary duties to the NYC-based credit union, NCUA is seeking penalties of $4.5 million.

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO.

The former Trump campaign chair got $16 million in mortgages from The Federal Savings Bank. His trial is shedding new light on what the bank's CEO allegedly received in return.