Litigation

Longtime customers of Capital One's online banking arm thought they were getting the best possible rate, according to a lawsuit. Little did they realize, they say, that they needed to open a new account in order to benefit from interest rate increases.

Sam Bankman-Fried was convicted of a massive fraud that led to the collapse of his FTX exchange, following a monthlong trial.

The lawsuit by state Attorney General Keith Ellison is the latest challenge to high-cost loans by tribal lenders. The lenders argue that tribal sovereignty gives them immunity from such lawsuits.

Citing the need to conserve capital, Blue Ridge Bankshares indefinitely extended a dividend suspension that it announced in July. The bank remains well-capitalized, but it saw its ratios shrink in the third quarter.

The whistleblower who brought the case, Minnesota-based municipal advisor Johan Rosenberg, will receive $14.4 million under the deal.

The student loan servicer said that it's open to settling a high-stakes lawsuit filed by the Consumer Financial Protection Bureau during the Obama administration. It recorded a $45 million charge and said that the range of reasonably possible losses is between $0 and $250 million.

Banks and dissenting policymakers have raised the possibility of challenging regulators' Community Reinvestment Act overhaul in court, but it remains unclear whether they intend to walk the walk.

The high court heard what is likely the last realistic judicial attempt to assert that the Consumer Financial Protection Bureau is structurally unconstitutional. It didn't go well for the plaintiffs.

In a case challenging the funding of the Consumer Financial Protection Bureau, justices across the political spectrum questioned where — and whether — the Constitution placed limits on Congress' power to delegate funding for federal agencies outside of annual appropriations.

The Supreme Court said Friday it would grant North Dakota convenience store Corner Post Inc.'s appeal to a lower court ruling as to when the statute of limitations for challenging a Federal Reserve interchange fee rule begins under the Administrative Procedure Act.

The $75 million deal between the megabank and the U.S. Virgin Islands includes various commitments, such as terminating customers' accounts if there is credible information that the accounts are involved in human trafficking.

The suit alleged that many off-duty cops picked up shifts at TD as security guards, only to go unpaid or wait months for their paychecks. The settlement did not include an admission of liability by the bank.

With class certification now in hand, the cities that brought the lawsuit have two weeks to outline how other municipalities will be provided notice of the chance to join.

The private equity firms accused the bank of concealing key changes to a credit agreement, in part because it wanted to win future muni bond business from Brightline Holdings.

The lawsuit takes issue with the agency's 2022 guidance on nonsufficient funds fees, a hot-button topic in the banking industry. The FDIC is asking a judge to dismiss the case, arguing that the plaintiffs lack standing to sue.

The head of the Consumer Financial Protection Bureau defended the agency and its mortgage rules in particular on the 15th anniversary of the collapse of Lehman Brothers.

A district court judge ruled that Congress did not give the Consumer Financial Protection Bureau broad authority to look for discrimination, putting a major dent into the bureau's efforts to apply anti-discrimination principles to non-lending products such as advertising.

The deal, approved by a federal judge on Friday, resolves claims alleging that former CEO Tim Sloan and other bank executives made misleading statements to investors, the media and Congress.

The settlement resolves allegations dating to 2014 and covers 85 minority employees who alleged they were paid lower wages than their white counterparts and faced retaliation.

Kevin Meyersburg, who is white, says in a lawsuit that the Wall Street investment bank terminated his employment and replaced him with a Black woman who is less qualified for the position. Morgan Stanley declined to comment.