Legal issues and news

Equifax's data breach may be the most serious, given that it covered 143 million consumers and involved reams of confidential information, but it wasn't the largest. Following are the biggest to date.

A recent failed-bank resolution in Europe may serve as a harbinger of how new authorities could cause problems in the U.S. and highlights the potential need for a modified bankruptcy process.

An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many.

Sen. Elizabeth Warren, D-Mass., called for bipartisan action against Equifax during a Senate floor speech on Tuesday, criticizing the credit bureau for waiting several weeks after a massive data breach to reveal it to the public.

Normally tight-lipped about security moves, bankers tell how they are re-examining their systems for Equifax-like flaws and providing new cards, fresh accounts and reassuring advice for anxious customers.

Armed heists are becoming less common, but the overall number of robbery attempts has ticked back up in recent years. The opioid epidemic is a likely reason, according to an industry expert.

Investigation will include possible insider trading by company executives; “broad clampdown” on buying and selling digital currency.

The California company will pay nearly $3 million to address claims it failed to pay employees for overtime.

Without the Consumer Financial Protection Bureau's expanding consumers' legal options, they will continue to be vulnerable to the abusive practices that have proliferated throughout the financial industry in recent years.

Senate Democrats' legislative bid to reform the credit reporting industry is tempered and balanced, according to analysts, which could help it gain traction in the GOP-controlled Congress.

Equifax Inc. said two of its senior executives are leaving as the credit-reporting company faces mounting public anger for losing data on 143 million Americans in one of the biggest cyberattacks in history.

Credit Suisse Group AG said it settled lawsuits brought by Massachusetts Mutual Life Insurance Co. over the sale of mortgage-backed securities before the financial crisis.

Agency confirms it’s investigating the credit bureau; regulator gives green light to Upstart Network to use cellphone payments, etc., to underwrite loans.

Bankers in Florida and Texas are dusting off their disaster-recovery playbooks, which focus on retrieving customers' valuables, ensuring employee safety and minimizing the bank's own legal exposure.

By replacing human judgment with other identity technologies, higher levels of verification accuracy can be achieved in a fraction of the time, writes Romana Sachová, co-chair of the Security and Biometrics Workgroup at Mobey Forum.

Rep. Carolyn Maloney, D-N.Y., sent a letter to the top executives at TransUnion and Experian on Wednesday asking them what steps they are taking to safeguard consumer data in light of the Equifax breach.

Thirty-six lawmakers signed a bipartisan letter Tuesday calling for an investigation into the sale of stock by Equifax executives between a data breach at the firm and when it was disclosed.

A mishmash of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.

Tim Sloan told investors Tuesday that Wells Fargo could uncover more examples of financial harm to its customers as part of its ongoing review of its sales practices.

A new documentary that aired Tuesday on PBS raises questions about why prosecutors targeted a small bank after the financial crisis and left bigger institutions untouched.