Litigation

The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.

PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame.

Seven years after James Gutierrez left Oportun Financial and started a competitor, the acrimony sparked by the divorce is coming into public view.

The trade association met with the Justice Department to reiterate credit union concerns about how the Americans with Disabilities Act applies to websites.

Several megabanks have sued the National Credit Union Administration claiming breach of settlement in a previous case related to mortgage-backed securities, but trends may favor the agency.

The settlement would mark a rare instance where the bank stands to benefit monetarily from a scandal that has severely damaged its reputation and cost it hundreds of millions in penalties.

A federal judge has offered a split decision in a suit regarding Marriott Employees Federal Credit Union, denying plaintiffs' request for damages but refusing to throw the case out entirely.

At least five banks have warned about the potential loss of tax benefits if it is proven that DC Solar operated an investor scheme.

The effort comes more than a year after Republicans successfully blocked a CFPB rule that would have banned mandatory arbitration clauses in financial contracts.

Lawmakers should step in to address the proper status of loans made by banks that have partnered with fintechs, rather than letting the courts decide.