Litigation

The U.S. Court of Appeals for the 5th Circuit overturned a lower court's ruling, declaring the agency's funding structure and its 2017 payday lending rule invalid.

When local prosecutors in Los Angeles investigated fake accounts at the San Francisco bank, they were hampered by a provision of state law that prevented them from issuing subpoenas before filing suit. That problem has been remedied under legislation signed by Gov. Gavin Newsom.

The class-action lawsuit was brought on behalf of mortgage borrowers who were allegedly placed into forbearance during the early days of the pandemic without their consent.

A federal judge found last year that a credit reporting dispute did not have to be investigated because the consumer's complaint was frivolous. The Consumer Financial Protection Bureau and the Federal Trade Commission argue that the decision undermines a key purpose of the Fair Credit Reporting Act.

An appeals court ruled that the electronic delivery of private information that was not made public did not constitute real harm to the consumer.

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

A decade ago, Think Finance partnered with Native American tribes in an effort to avoid state interest-rate caps on consumer loans. After the company's legal woes finally ended this month, court documents shed light on its rapid rise and steep fall.

The jury at an upcoming trial can draw an adverse inference about evidence destruction by the Chicago-based bank, a federal judge ruled. The plaintiff is seeking $1.9 billion from the bank, in addition to punitive damages and other funds in a bankruptcy-related case stemming from a Ponzi scheme.

JPMorgan Chase must face a trial over claims by a former vice president in its anti-corruption unit that she was marginalized, mistreated and fired from the bank for complaining about compliance failures.