Legal issues and news

Before holding financial institutions accountable for new regulatory expectations, clearer guidance is needed on what constitutes appropriate risk-based decision-making versus impermissible "debanking."

One way for credit unions to remain competitive is to control their own data; and Iran is fighting an economic war.

A threat that was probabilistic is now official. An Iranian military spokesperson warned of a "painful response" against U.S.-linked banks.

The war may put a damper on bank mergers; and financial crime has become a global industry -- a big global industry

The Swiss bank turned to a federal judge to mediate its dispute with a Jewish human rights group, but the two sides left the courtroom in deadlock.

Criminals are using AI and professional crime networks to scale attacks, yielding massive operational risks for banks, according to a new report from Nasdaq.

In a sternly written footnote, federal Judge Steven Merryday said the SEC's refusal to release information on its penalty calculations appears to "countenance duplicity, gamesmanship, neglect, insouciance" or worse.

Civil rights groups object to a $68 million settlement between the Department of Justice and Colony Ridge Development in Texas, calling the deal a sham because it funnels $20 million into immigration enforcement and surveillance of victims.

The Beaver State is poised to opt out of a federal law that poked a hole in its interest rate cap, joining a growing list of states to reassert their authority over consumer loan rates.

A House subcommittee debated new legislation to improve bank data sharing and slow down transactions to thwart sophisticated financial scams.

Cybercriminals say they stole sensitive records by exploiting an unpatched vulnerability known as React2Shell and using the password Lexis1234.

The Phoenix-based bank said that affiliates of Jefferies had stayed current on the loan agreement until last week. The suit is the latest example of private credit-related problems at banks.

Romance scams and other "pig butchering" frauds are growing rapidly. Should banks refund the stolen money? Not all agree on the answer to that question.

Five major U.S. banks are engaging in costly litigation rather than reimburse fraud claims of a 72-year-old dementia patient who lost $337,000 in a romance scam. The victim's lawyer says banks are not abiding by the consumer protection process.

The Financial Crimes Enforcement Network's expectations of banks that file suspicious activity reports have changed. Some banking clients may soon discover that they are less appealing customers than they used to be.

The Supreme Court slammed the door on CashCall's final appeal, cementing a massive win for the Consumer Financial Protection Bureau after a 12-year legal marathon.

U.S. banks are bracing for retaliatory cyberattacks following military strikes in Iran that killed Ayatollah Ali Khamenei.

The responsible gathering of data on consumers is intrinsic to the verification tools that keep everyone safe from identity theft and other forms of fraud. Blanket attacks on "data brokers" will harm consumers, not help them.

Preferred Bank moved a $115 million block of loans to nonaccrual status after the borrower, which is battling fraud charges leveled by other banks, began missing payments.

Experts said that judges reviewing ongoing litigation between the Consumer Financial Protection Bureau and its employee union seem inclined to allow reductions in force to proceed if the CFPB presented a credible plan for running the agency.