Legal issues and news

Barclays and the Justice Department, engaged in a legal battle over the suspected fraudulent sale of mortgage securities a decade ago, have revived discussions about reaching an out-of-court settlement, according to people with knowledge of the situation.

Small banks targeted a handful of GOP senators; bank may lose more than $450 million, mainly due to its Puerto Rico auto finance unit.

The stunning defeat of the Consumer Financial Protection Bureau's arbitration rule didn't have to happen, according to critics and former agency officials.

The Senate's repeal of the Consumer Financial Protection Bureau rule is arguably the industry's biggest policy victory since passage of Dodd-Frank. But is it the sign of a trend?

Readers weigh in on Amazon as a bank threat, claims that big banks are poor fintech partners, whether there are too many banks in the U.S. and more.

Now two years on from the U.S. EMV liability shift, chip cards are commonplace in American wallets. But the benefits of EMV cards — a longer five-year lifespan and a reduced need to reissue in the event of fraud — have muted the demand for new cards.

German bank says the $220 million settlement closes the book on its Libor-related misdeeds; reopening mandatory arbitration could backfire on banks.

The Senate's repeal of the Consumer Financial Protection Bureau rule is arguably the industry's biggest policy victory since passage of Dodd-Frank. But is it the sign of a trend?

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates.

While used infrequently by credit unions, arbitration clauses can be an effective way to ensure both the credit union member and the credit union's interest are protected when disputes arise.

Pence breaks tie to overturn rule prohibiting mandatory arbitration; depositors receiving higher rates in effort to retain them.

If you’re an omnichannel merchant, it’s critical to analyze fraud separately across your brick and mortar, online and mobile channels, in order to focus your information security resources where they are most needed, writes Michael Lynch, chief strategy officer for InAuth.

Republicans were able to use an obscure legislative process to overturn a rule that banks and credit unions feared would raise their litigation costs.

But using a broad, sweeping rule that applies equally to credit unions and Wall Street banks doesn't make sense, and certainly doesn't benefit the consumer.

Consumer Financial Protection Bureau Director Richard Cordray pushed back against a Treasury Department report critical of the bureau's arbitration rule, saying it overlooked how class action lawsuits help consumers.

The GOP appears to have barely enough votes to roll back the contentious CFPB rule, and floor debate was expected to begin Tuesday with a final vote possible at any time. But victory was not assured, and the fallout could be significant for all sides.

Credit unions rely on a brand of fairness and trustworthiness, which would be severely weakened if more credit unions started using forced arbitration.

Why are credit unions lending their name to this fight when the vast majority of them do not use forced arbitration and have not been caught up in Wall Street’s excesses?

Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank.

The lowest rates could be a sign the provider is not investing in itself, not being entirely transparent, or not providing a wide enough range of services for their clients, writes Drew Sementa, CEO of Tidal Commerce.