Legal issues and news

As false credit-card disputes spike, the networks have updated policies to provide merchants and issuers with more data to combat false chargebacks.

After Archegos' collapse, Nomura had lost almost $3 billion, one of the biggest losses in the history of the prime-broker industry that caters to investment funds.

The Commodity Futures Trading Commission filed a lawsuit against Stephen Ehrlich in U.S. federal court in New York, claiming he and Voyager 'fraudulently solicited participation in and operated a digital asset trading and custody platform.'

Caroline Ellison outlined for a New York jury how she worked with Sam Bankman-Fried to deceive lenders and customers to build his multibillion dollar cryptocurrency empire — and their failed attempts to prevent a spectacular collapse.

Federal housing authorities persuaded Texas Capital Bancshares to help with the fallout from a bankrupt reverse-mortgage provider, then went back on their promises of financial support, the company says in a new lawsuit.

The high court heard what is likely the last realistic judicial attempt to assert that the Consumer Financial Protection Bureau is structurally unconstitutional. It didn't go well for the plaintiffs.

In a case challenging the funding of the Consumer Financial Protection Bureau, justices across the political spectrum questioned where — and whether — the Constitution placed limits on Congress' power to delegate funding for federal agencies outside of annual appropriations.

Donald Trump wanted to get higher on the Forbes billionaires list and save a fortune on loan terms by overvaluing his properties, according to documents presented by New York Attorney General Letitia James at the former president's civil fraud trial. 

Making the Consumer Financial Protection Bureau's funding subject to congressional appropriations would bring some much-needed accountability to a runaway regulator.

The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.

The Supreme Court said Friday it would grant North Dakota convenience store Corner Post Inc.'s appeal to a lower court ruling as to when the statute of limitations for challenging a Federal Reserve interchange fee rule begins under the Administrative Procedure Act.

Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.

The New Jersey senator, who is a powerful member of the Banking Committee, is facing calls from fellow Democrats to resign. He was released on Wednesday after posting a $100,000 bond.

Subjecting the Consumer Financial Protection Bureau to congressional appropriations would throw a wide range of essential regulatory activities into disarray, disrupting the industry and putting consumers at risk.

The $75 million deal between the megabank and the U.S. Virgin Islands includes various commitments, such as terminating customers' accounts if there is credible information that the accounts are involved in human trafficking.

A New York judge ruled Donald Trump is liable for fraud for exaggerating his net worth by billions of dollars a year on financial records submitted to banks and insurers, a major victory for the state's attorney general before a high-stakes civil trial over remaining claims in the case.

The suit alleged that many off-duty cops picked up shifts at TD as security guards, only to go unpaid or wait months for their paychecks. The settlement did not include an admission of liability by the bank.

The Securities and Exchange Commission — which charged Coinbase this year with operating as an unregistered securities exchange, broker and clearing house — says Coinbase Global's proposed involvement in Celsius Network's plan to emerge from bankruptcy raises many of the same concerns as those in the agency's lawsuit.

Georgia United Credit Union is collaborating with the income-verification fintech Argyle to combat submissions of false documents and other crimes.

With class certification now in hand, the cities that brought the lawsuit have two weeks to outline how other municipalities will be provided notice of the chance to join.