Legal issues and news

The central bank's governing body said a limited disclosure would satisfy its obligations under administrative law. The Kansas City Fed, meanwhile, would be subject to full discovery.

The U.S. Supreme Court expanded a planned showdown over President Biden's student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.

At least $73 million of political donations tied to Sam Bankman-Fried's FTX may be at risk of being clawed back as bankruptcy lawyers sort through the remnants of his crypto empire in search of assets to repay creditors.

The U.S. Supreme Court agreed to consider a Coinbase Global appeal over a user lawsuit in a case that could bolster the ability of companies to channel customer and employee disputes into arbitration.

Former JPMorgan Chase gold and silver trader Christopher Jordan was convicted of wire fraud affecting a financial institution by a federal jury in Chicago, the latest win for U.S. prosecutors in their crackdown on illegal "spoofing" trades and market manipulation.

Sam Bankman-Fried missed the deadline set by a U.S. Senate committee for a response to a request to testify at a Dec. 14 hearing about FTX's collapse into bankruptcy.

Santander UK was fined £108 million ($132 million) by the U.K. financial watchdog over repeated anti-money-laundering failures that included a series of missteps over its monitoring of hundreds of millions of pounds of suspicious funds.

Citing a congressional report, SBA says it will investigate PPP operations at several fintechs, community banks and other participants. The review raises questions about plans to open up the agency's flagship loan-guarantee program to more nonbanks.

Publicly traded companies exposed to the "crypto winter" and the collapse of FTX or other digital-asset companies might have to disclose those details to investors under new guidance from the Securities and Exchange Commission.

FTX's new chief executive and bankruptcy lawyers met with Manhattan federal prosecutors investigating the cryptocurrency exchange's collapse and allegations that it misused customer funds and lost billions of dollars, according to people familiar with the matter.