Litigation

Banks historically have been averse to challenging their regulators in court, but a suit over the recently finalized Community Reinvestment Act implementation rules is a signal that the times have changed.

The Independent Community Bankers of America, American Bankers Association and other groups filed a lawsuit arguing that recent reforms to implementing regulations for the Community Reinvestment Act exceed statutory authority.

First National Bank of Pennsylvania, a unit of FNB Corp., ran into trouble in connection with North Carolina operations it acquired from Yadkin Financial in 2017.

The megabank failed to adequately protect and reimburse customers who were victims of wire-transfer fraud, according to a lawsuit by the New York Attorney General. Citi said that it follows all relevant laws and regulations.

Plaintiffs' lawyers are targeting various companies in connection with a California law that ensures customers can air grievances publicly without the threat of retribution. BofA and U.S. Bank say the suits against them are meritless.

A federal judge rejected every one of Missouri's arguments for why SIFMA's lawsuit should be dismissed.

By overturning so-called "Chevron deference," the Supreme Court could compel lawmakers to be less ambiguous in their legislative language, limiting agencies' interpretative power.

At least four conservative judges on the Supreme Court, a formidable group at the oral argument stage, appear ready to overturn 'Chevron' deference, which could have massive consequences for bank policy.

The Supreme Court will hear oral arguments in two cases seeking to overturn the legal principle known as "Chevron deference," that could usher in a new era of litigation by corporations against government agencies.

A coalition of financial trade groups issued a joint comment letter asserting that the federal bank regulators' proposed capital rule lacked justification and evidence required by the Administrative Procedure Act, threatening legal action if regulators don't delay and significantly amend the rule.