Legal issues and news

Two bank trade groups have asked the Consumer Financial Protection Bureau to relieve all banks from complying with its small-business lending rule until after the U.S. Supreme Court decides whether the bureau's funding is constitutional.

In 18 states, consumers are not allowed to use trained debt resolution professionals to seek relief from their creditors. That needs to change.

A federal judge has temporarily stopped the Consumer Financial Protection Bureau from implementing its small-business data collection rule until after the Supreme Court rules next year on whether the bureau's funding is constitutional.

U.S. financial institutions should look to the U.K. for tips on fighting real-time payments fraud.

The U.S. government wants to intervene in JPMorgan Chase's fraud lawsuit against Frank founder Charlie Javice, asking a federal judge to halt pretrial information exchanges until she has been tried on criminal charges. 

Greenwood Financial and The Gathering Spot, a network of private clubs for the Black community, say they have reached an agreement after six months of lawsuits.

JPMorgan Chase, Barclays, Citigroup and others will face a class-action suit over allegations of foreign exchange manipulation. 

The Minnesota Bankers Association and Lake Central Bank jointly filed a lawsuit against the Federal Deposit Insurance Corp. over its nonsufficient funds fee rules' inclusion of "unfair or deceptive acts or practices" violations in its policy.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

Republicans have urged the Supreme Court to gut the Consumer Financial Protection Bureau by tying its funding to appropriations. But regulatory experts say that a ruling against the CFPB would threaten the funding of other similarly structured agencies including the Federal Reserve Board, the Farm Credit System and other regulators that are funded through fees or assessments.