Litigation

Consumer advocacy group Better Markets filed a lawsuit in federal district court Thursday claiming the Federal Reserve's top regulator coached bankers on how to comment on proposed capital rules in "secret meetings."

A consulting firm working for BMO Harris flagged the processor's charge-back problem in 2015. The FTC says the shell accounts kept coming through 2023.

A federal judge found SVB Financial's management negligently prioritized yield over safety, allowing the Federal Deposit Insurance Corp. to retain the deposits after the bank's 2023 collapse.

IDScan.net removed the pages naming its bank and credit union integrations after KrebsOnSecurity traced 153 million license scans to the company.

The Commodity Futures Trading Commission asked a federal court to drop a suit filed by the Chicago Mercantile Exchange challenging the agency's decision to let Kalshi offer bitcoin perpetual futures contracts, known as perps.

U.S. District Judge Jed Rakoff called the agreement "fair, reasonable and adequate," clearing the way for lawyers to begin distributing money to about 90 women who were sexually abused or trafficked by Epstein and the people around him.

A lawsuit accusing U.S. Bank of harassing and discriminating against its former head of AI can proceed following a federal magistrate judge's ruling. The suit's defamation and blacklisting claims, however, were thrown out.

Thomas Eide's CB Surety ran small charges on prepaid cards to dilute clients' charge-back ratios, keeping open the accounts banks would have closed.

A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.

Litigation involving Amalgamated Bank highlights the risks that banks may face when highly placed employees leave their jobs on bad terms.

During a court hearing Tuesday, appellate judges expressed skepticism about a Colorado effort to cap the rates on consumer loans that out-of-state banks make to Coloradans.

The 10th Circuit Court of Appeals is reviewing a challenge to Colorado's effort to exercise more power over the interest rates charged to its residents.

The company, which says it serves 93% of credit unions, expects most key processes to run by mid-August. Its status page still said "Investigating" Wednesday.

Santander's employee data was breached. Credit unions that were never breached are suing over the cards they had to reissue.

USAA sued Fifth Third last month over four patents. The bank had already asked the patent office to cancel two of them.

Dallas-based Texas Capital Bank will try for a second time to win shareholder support to switch its state of incorporation from Delaware to the Lone Star State, according to CEO Rob Holmes. If it succeeds, it will join a growing list of companies choosing the same path.

The GOP senator's push comes as UBS continues withholding records tied to predecessor Credit Suisse's World War II-era dealings.

A New York judge refused to dismiss Attorney General Letitia James's suit accusing Zelle's operator of enabling more than $1 billion in scams.

The class action is an early test of whether credit unions can hold their vendors liable for the cybersecurity they promise.

Bank7 CEO Tom Travis told analysts the court-ordered auction for a 71% stake in Century Bank should open in August.