Litigation

The Consumer Financial Protection Bureau is in the direct crosshairs of a federal lawsuit questioning its leadership structure. But it might be the independence of all federal agencies on trial.

Appeals court justices appeared divided on whether the structure of the Consumer Financial Protection Bureau is constitutional during oral arguments in the PHH v. CFPB case on Wednesday.

President Trump’s aim to scale back financial regulations may make it easier for student loan borrowers to maintain federal class actions.

Christy Romero, the special inspector general for the Troubled Asset Relief Program, and two other government entities were involved in a probe that led Lamar Cox, former chief operating officer at Tennessee Commerce Bank, to plead guilty to misleading the FDIC.

The West Virginia company sold the mortgages to Residential Funding and ResCap Liquidating Trust between 2003 and 2007.

The insurer says the administration’s review of systemic designations could moot the case.

The San Francisco bank is adding $32 million to a previously announced agreement, and also extending it back to 2002, in the wake of a report on the roots of the firm's sales scandal.

Lawmakers and others want the Trump administration to drop the Financial Stability Oversight Council's appeal of a controversial court ruling, but doing so may be harder than it sounds.

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts.

The San Francisco bank also disclosed Wednesday that certain foreign banks that were using its software to conduct trade-related transactions in violation of U.S. sanctions.