/banking?utm_source=rss&utm_medium=rss&utm_campaign=section Latest articles for: Banking Copyright 2025 ÃÛÌÒÊÓƵ. en-US Sat, 17 May 2025 00:11:36 +0000 /banking/articles/2338801?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2338801 A D.C. Circuit panel majority Friday sounded inclined to lift lower court restrictions on what the Trump administration contends is its lawful push to "radically downsize" the Consumer Financial Protection Bureau, potentially clearing the way for mass layoffs of its staff. Fri, 16 May 2025 23:50:09 +0000 /banking/articles/2341655?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341655 Capital One has agreed to pay $425 million to put to rest a proposed class action alleging that it deceptively advertised its 360 Savings accounts as high-interest savings products, according to a joint notice filed Friday in Virginia federal court. Fri, 16 May 2025 22:45:13 +0000 /banking/articles/2341434?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341434 The Eleventh Circuit on Friday revived a Florida couple's proposed class action over unclaimed property, vacating a lower court's judgment that a $26.24 insurance premium refund they were owed was assumed to be abandoned before it was transferred into state custody. Fri, 16 May 2025 22:04:05 +0000 /banking/articles/2341265?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341265 The government of Laos, as it attempts to enforce some $5 million in arbitral awards related to a failed casino venture, still has not proven that the case should be decided in U.S. federal court in the Northern Mariana Islands, one of the companies owing the money said Friday. Fri, 16 May 2025 21:20:37 +0000 /banking/articles/2341572?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341572 A Brooklyn federal judge ordered three former Credit Suisse bankers and the former finance minister of Mozambique to pay a combined $352 million in restitution Friday after they pled guilty or were convicted of scheming to defraud investors in a $2 billion state-backed development initiative involving tuna fishing. Fri, 16 May 2025 20:24:29 +0000 /banking/articles/2341509?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341509 President Donald Trump asked the U.S. Supreme Court on Friday to pause a California federal judge's order temporarily halting agencies from implementing an executive order to plan reorganizations and reductions in force, claiming the lower court's decision has caused confusion and wasted taxpayer dollars. Fri, 16 May 2025 18:50:20 +0000 /banking/articles/2340804?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2340804 Cryptocurrency exchange Coinbase has been sued in Illinois federal court by users who claim its identity verification process flouts Illinois' biometric privacy law, alleging it fails to get written, informed consent before collecting, analyzing and storing biometric data from users' government IDs and photographs. Fri, 16 May 2025 18:01:37 +0000 /banking/articles/2341306?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341306 A Michigan federal judge has said Citizens Bank must face a racial discrimination suit from a former customer who has claimed that her check from a lawsuit settlement was flagged for fraud by the bank because she is Black and that a bank teller's conduct questioning her was far outside the scope of his job, among other things. Fri, 16 May 2025 17:41:50 +0000 /banking/articles/2340910?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2340910 A former financial adviser pled guilty to a criminal charge in connection to defrauding an elderly family member out of $8.4 million, admitting to a Florida federal court he made false misrepresentations that he was buying investments on her behalf, but he was actually spending the money on himself. Fri, 16 May 2025 14:13:20 +0000 /banking/articles/2341409?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341409 In this week's Taxation With Representation, Charter Communications Inc. merges with Cox Communications, Hub International Ltd. boosts its valuation after securing an investment, Pan American Silver Corp. acquires Mag Silver Corp. and Robinhood buys WonderFi. Fri, 16 May 2025 12:56:18 +0000 /banking/articles/2341238?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341238 Prosecutors asked a Manhattan federal judge for leniency when sentencing a former Goldman Sachs partner who cooperated in the investigation into the 1MDB scandal and testified at his former colleague's trial, citing his "extraordinary" assistance. Fri, 16 May 2025 11:22:21 +0000 /banking/articles/2339525?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2339525 A recent settlement of claims against law firm Eckert Seamans for allegedly abetting a Ponzi scheme underscores the continuing threat of clients who seek to exploit their lawyers in perpetrating fraud, and the critical importance of preemptive measures to avoid these clients, say attorneys at Lockton Companies. Fri, 16 May 2025 11:10:11 +0000 /banking/articles/2334962?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2334962 Though the Consumer Financial Protection Bureau has significantly scaled back enforcement under the new administration, states remain able to pursue Consumer Financial Protection Act violators and the ÃÛÌÒÊÓƵ seems set to enhance its focus on predatory loans to military members and fraudulent debt collection and credit reporting practices, say attorneys at MoFo. Thu, 15 May 2025 23:26:02 +0000 /banking/articles/2336939?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2336939 Lawyers for Greenpeace urged a North Dakota state judge Thursday to significantly reduce a $666 million verdict over claims that it falsely disparaged the Dakota Access pipeline amid environmental protests, with the jury having awarded ten times more on certain claims than even the pipeline's builder wanted. Thu, 15 May 2025 23:07:10 +0000 /banking/articles/2341011?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2341011 The Consumer Financial Protection Bureau on Thursday slashed an enforcement fine for Wise, a global money transfer fintech, by nearly 98%, shaving almost $2 million off a previous settlement for misleading customers about its fees and other costs. Thu, 15 May 2025 22:26:18 +0000 /banking/articles/2339951?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2339951 Clifford Chance LLP has boosted its international arbitration practice by hiring a lawyer from Pinsent Masons LLP, saying she has broad experience in matters involving Spain and has been appointed to serve as a partner on the global law firm's litigation and dispute resolution team. Thu, 15 May 2025 21:38:41 +0000 /banking/articles/2340914?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2340914 A Georgia attorney has been sentenced to 16 months in federal prison and slammed with an $8 million bill after pleading guilty to helping orchestrate a $1.3 billion tax scheme involving fraudulent conservation easements. Thu, 15 May 2025 20:34:39 +0000 /banking/articles/2340780?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2340780 A California federal judge Wednesday rejected a group of consumers' last-minute bid to delay Capital One Financial Corp.'s impending purchase of Discover Financial Services, unpersuaded that the deal poses serious enough potential antitrust concerns to support a preliminary injunction. Thu, 15 May 2025 20:26:37 +0000 /banking/articles/2340730?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2340730 A California federal judge must greenlight a nationwide injunction to stop multiple federal agencies from moving ahead with implementing reorganization and mass termination plans linked to an executive order, a coalition of unions and groups argued, making their request on the heels of a temporary restraining order. Thu, 15 May 2025 20:02:18 +0000 /banking/articles/2340936?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2340936 U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority staff on Thursday withdrew a joint statement from President Donald Trump's first term warning that existing consumer protection safeguards may not be effective or available for digital asset securities.