Legal issues and news

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

"I've told people from the day I walked in there, I wasn't there to burn the place down or blow it up," the consumer bureau's acting director said at a White House briefing.

The Financial Stability Oversight Council filed a joint motion with MetLife that all but cemented the 2016 court ruling throwing out the insurance giant's designation.

If anyone has doubted that acting Consumer Financial Protection Bureau Director Mick Mulvaney intends to overhaul the agency, the last three days alone have put those doubts to rest.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

The anxiety that a crook is using a lost or stolen card can be a powerful lure to mobile technology, Citigroup has learned.

The P-to-P payments service promises to clear transactions in near-real time, but many consumers have complained that they have been unable access their money or even open accounts. Zelle has acknowledged the delays and says they are a result of its rigorous enrollment process.

As senators weigh anti-money-laundering reforms, they reiterated their desire to include cryptocurrencies as part of legislative discussions.

Ameris, which was operating under a regulatory order when it agreed to buy Atlantic Coast, agreed to pay more money if it failed to complete the acquisition by mid-2018.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.

Credit unions, trade associations and others wishing to join the Credit Union National Association's class action suit against Equifax have until the end of January to do so.

To date, the vast majority of security investment has focused firmly on keeping the bad guys out. It only ever works to a certain extent. This is because there is much greater impetus for the hackers to devise new methodologies to gain access and the security industry at large is only ever playing catch up, writes James Barham, chief commercial officer at PCI Pal.

Lower East Side People's Federal Credit Union's case against the appointment of Mick Mulvaney as head of the CFPB turns on whether it has standing to sue.

The Supreme Court agreed Friday to hear a case challenging the appointment of administrative law judges, which could impact a ruling on the constitutionality of the CFPB.

The deputy director of the Consumer Financial Protection Bureau filed an appeal Friday in her battle to oust acting CFPB Director Mick Mulvaney, prolonging the legal fight over President Trump's appointment.

Weak loan growth, a $3.25 billion litigation accrual and other costs tied to the phony-accounts saga all added up to a messy fourth quarter for the San Francisco bank.

The payments resolve a number of cases that date back to 2011 and were among the largest coordinated U.S. enforcement efforts in the years following the crisis.

If Congress doesn’t take the lead on protecting consumers from data breaches, states are more than ready to offer their own fixes. Bankers will also be keeping close tabs on bills related to marijuana, PACE loans and elder financial abuse.

The disclosure of a key part of Wells Fargo's exam rating is fueling speculation that further regulatory action may soon be taken against the megabank and raising renewed questions about its regulator's oversight.