Litigation

The Consumer Financial Protection Bureau issued only 20 enforcement actions in 2022, but some observers say the enforcement numbers belie the results that director Rohit Chopra is getting from other ways of holding companies accountable.

The three-year-old law required banks and other corporations based in the nation's most populous state to appoint a minimum number of board members from designated underrepresented communities. A federal judge said that it imposed an unconstitutional racial quota.

The San Francisco bank agreed to a deal with its shareholders after allegedly making misleading statements about its progress in resolving regulatory problems. The agreement is the second-largest bank class-action settlement in history.

Investors argues in suit that Jamie Dimon and other executives risked the bank's reputation in their dealings with the disgraced financier.

The retail behemoth alleged in a lawsuit last month that Capital One fell short on customer service. But the McLean, Virginia-based bank says ending the partnership would open a path for a rival offering from a Walmart-backed fintech venture.

The Texas Bankers Association, a trade group representing Lone Star State bankers, accused the agency of exceeding its authorities in crafting its rule on collecting data about small business lending activity.

The world's largest retailer sued Capital One over their four-year-old credit card partnership, saying the bank failed to meet customer service standards. The McLean, Virginia-based bank disputed the allegations, and analysts said that the firm could compensate by landing new credit card partnerships or cutting back on marketing expenses.

A federal appeals court ruled in favor of the Consumer Financial Protection Bureau, setting up a court split ahead of a highly anticipated Supreme Court hearing in October. The Fifth Circuit previously ruled that the agency's funding mechanism violates the Constitution's separation of powers doctrine.

JPMorgan Chase is suing the former executive to hold him responsible for any damages stemming from lawsuits accusing the bank of facilitating Jeffrey Epstein's sex-trafficking.

The San Francisco fintech made its name in refinancing student loans. Now it contends that a moratorium for federal student debt payments — put in place near the start of the pandemic — has cost it at least $150 million in profits.