Legal issues and news

Banking and fintech trade groups have filed suit against the State of Oregon over a new lending law that they say unlawfully restricts interest-rate exportation by out-of-state state banks and threatens access to credit.

The Atlanta bank was ordered to pay nearly $80 million to the former head of its equipment-finance subsidiary Balboa Capital

BofA is using an old-school method to battle the world's newest scams: in-person seminars, taught at brick-and-mortar branches.

The bank has decided it doesn't want to be at the mercy of tech companies and the price they demand for services, and is building its own "AI factory."

Fraud sophistication, transaction velocity and regulatory expectations require a new approach. AI is at the center of it..

Federal prosecutors arrested and charged Mahender Makhijani, 44, with orchestrating a $100 million bank fraud against Western Alliance Bancorp.

Federal prosecutors have sought records and account closure data from banks as the Trump administration continues to clash with the industry.

A federal judge let fraud claims against Meta proceed, finding its AI ad tools may have helped build ads that impersonated a Bank of America executive.

Within hours of a judge's approval of an interchange settlement, merchant lobbyists were crying foul over the latest attempt to end a two decade legal fight, making references to "next steps," while analysts predicted an appeal.

The AI-powered fintech accused the neobank and buy now, pay later lender of misappropriating its trade secrets and breaching its license and loan sale agreements.

The Dutch payment processor says that overall declines in payments crime obscure a broader danger as the threat migrates to hard-to-spot consumer uses and AI.

The former crypto wunderkid added a presidential-pardon application to the long list of attempts to get his sentence reduced.

Payment experts detail where banks are falling short in combating AI-driven crimes.

The suit tests an unusual theory: that a borrower's lawyer crossed from representing a client into joining a $145 million fraud.

The consumer intelligence company alleged that Chime willfully misused J.D. Power's name and trademark in its marketing materials. The neobank said it would "vigorously" defend its position.

Cheungkin Lam fed customers' account details to a crew that drained their balances, including $417,300 from one account that TD had to repay.

Joseph Sanberg was handed a 168-month prison sentence for two counts of wire fraud after the celebrity-backed ecofintech collapsed last year.

Belgian prosecutors say they're finalizing charges over €500 million in suspect transactions. Wise calls the case, like its U.S. run-ins, a routine matter.

A federal judge blocked Illinois from enforcing its interchange fee ban for taxes and tips against national banks and card networks after the Office of the Comptroller of the Currency's recent intervention materially altered the court's preemption analysis.

Lawmakers early on Monday voted to push the effective date of the law, which would ban interchange fees on the tax and tip portions of transactions, to July 1, 2027, marking the second delay as merchants and banks continue to battle in court.