/banking?utm_source=rss&utm_medium=rss&utm_campaign=section Latest articles for: Banking Copyright 2025 ÃÛÌÒÊÓƵ. en-US Mon, 07 Jul 2025 23:33:43 +0000 /banking/articles/2361914?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361914 A New York federal judge Monday rejected Credit Suisse's bid to escape investor litigation alleging it concealed the impact of quarterly losses and the bank's inability to retain clients leading up to its takeover by UBS AG while certifying a class of investors and consolidating two cases for pretrial proceedings. Mon, 07 Jul 2025 21:50:46 +0000 /banking/articles/2361828?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361828 Federal Reserve Board leadership urged a North Carolina federal court Monday to trim a former employee's lawsuit claiming he was fired for refusing the COVID-19 vaccine and ship it to D.C., arguing he can't keep the case in the Tar Heel State because he worked remotely. Mon, 07 Jul 2025 21:18:30 +0000 /banking/articles/2361172?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361172 State and federal courts have handed down rulings in Illinois cases so far this year that have clarified standing for data breach actions in the state's courts, affirmed coverage for attorney fees and costs paid as part of a settlement, and deemed insufficient a jury instruction frequently given in Illinois personal injury cases. Here's a breakdown of some of the biggest decisions courts have handed down in Illinois cases so far in 2025. Mon, 07 Jul 2025 21:17:25 +0000 /banking/articles/2361487?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361487 A California resident has accused River Valley Loans and some business leaders allegedly associated with the company — including the son of TV host Dr. Phil — of operating a predatory lending scheme involving the Crow Creek Sioux Tribe to make short-term, small-dollar loans with illegally high interest rates. Mon, 07 Jul 2025 21:15:17 +0000 /banking/articles/2361686?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361686 The U.S. Securities and Exchange Commission has sued a Chicago-based investment adviser and its owner for allegedly charging clients more than $2.5 million in unauthorized fees without clients' knowledge, accusing them of posing as clients to approve the fees online in some instances. Mon, 07 Jul 2025 20:46:54 +0000 /banking/articles/2361130?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361130 The Eleventh Circuit has rejected a Puerto Rican man's bid to vacate a roughly $6.5 million arbitration award given to UBS Financial Services Inc. that stems from a long-running account contract dispute, finding there was no misconduct in the proceedings. Mon, 07 Jul 2025 18:17:58 +0000 /banking/articles/2361807?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361807 A former manager of an essential oils company was sentenced to nearly six years in federal prison Monday for his role in an embezzlement scheme that stripped his employer of more than $29 million and awarded him millions in kickbacks he hid from the IRS, according to the U.S. Department of Justice. Mon, 07 Jul 2025 17:42:25 +0000 /banking/articles/2361597?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361597 A California state court's decision to preliminarily approve a settlement in a case against PHH Mortgage would prevent California mortgage loan officers from pursuing their claims in their New Jersey federal court proceedings, two California workers told the New Jersey court. Mon, 07 Jul 2025 17:16:35 +0000 /banking/articles/2358050?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2358050 Companies should take a strategic approach to third-party audits in response to the Trump administration's ramp-up of export control enforcement with steps that strengthen their ability to identify the control weaknesses of distributors, dealers and resellers, say Michael Huneke at Hughes Hubbard, and John Rademacher and Abby Williams at Secretariat Advisors. Mon, 07 Jul 2025 16:39:37 +0000 /banking/articles/2361661?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361661 A New York state judge has handed an early win to Lowenstein Sandler LLP against allegations it provided faulty advice in a client's bankruptcy, finding the asset manager that brought the suit was simply attempting "to shift the financial cost of the troubled company's failed business from its owners to its lawyers." Mon, 07 Jul 2025 16:21:22 +0000 /banking/articles/2361759?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361759 In Delaware in the past week, a vice chancellor awarded just $1 in damages to a China-tied company looking to secure a $50 million stake in SpaceX while also slamming the fund's manager for acting "insincerely," Tyson Foods won $55 million in damages in a suit claiming the owner of two poultry rendering plants Tyson acquired hid that it relied on a "disfavored" practice of recovering "unappetizing remnants of butchered chickens," and a suit over a one-site bank's 11-aircraft fleet was moved into the discovery phase. Mon, 07 Jul 2025 16:12:47 +0000 /banking/articles/2355670?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2355670 The Trump administration has so far carried out its goal of minimizing the Consumer Financial Protection Bureau's authority and footprint via an individualized approach comprising rule rollbacks, litigation moves and administrative tools, say attorneys at Holland & Knight. Mon, 07 Jul 2025 16:05:26 +0000 /banking/articles/2357698?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2357698 With the recent and continually evolving tariffs announced by the Trump administration, John Ryan at King & Spalding takes a detailed look at whether those new tariffs can be added back in calculating earnings before interest, taxes, depreciation and amortization — an important question that may greatly affect a company's compliance with its financial covenants. Thu, 03 Jul 2025 22:02:13 +0000 /banking/articles/2361200?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361200 A California federal judge Thursday refused to certify three putative classes of former Bank of America employees who accused the bank of not paying them their accrued, unused vacation time, saying a proposed class representative seemingly wasn't eligible for vacation time accrual. Thu, 03 Jul 2025 21:04:24 +0000 /banking/articles/2361167?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361167 The Federal Deposit Insurance Corp. hit banks with a surge of consumer protection-related enforcement actions in the final year of the Biden administration, issuing the largest total dollar amount of fines in almost a decade, according to a new report from the agency. Thu, 03 Jul 2025 20:42:06 +0000 /banking/articles/2361125?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361125 An Ohio federal judge has trimmed two online merchants' claims that bank Pathward Financial Inc. and its partner payment company PayNetWorx LLC misrepresented fees and their compliance with card network rules, saying certain contracts may hold the bank liable for the payment company's alleged fraud but may bar some other claims. Thu, 03 Jul 2025 20:22:45 +0000 /banking/articles/2361155?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361155 Experian can arbitrate a customer's lawsuit alleging it failed to reasonably ensure the accuracy of her credit files after a fraudulent $26,922 car loan was reported, the Eleventh Circuit ruled Thursday, finding Experian provided competent, unrebutted evidence of her agreement to arbitrate after enrolling in credit-monitoring services with its affiliate.  Thu, 03 Jul 2025 19:37:22 +0000 /banking/articles/2361012?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361012 Planet Hollywood sued BankUnited on Wednesday, claiming the Miami-based bank misled the restaurant company and related entities in their applications for COVID-19 relief loans, leaving them on the hook for more than $6 million in debt that could have otherwise been forgiven. Thu, 03 Jul 2025 19:26:17 +0000 /banking/articles/2361077?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2361077 Top Democratic lawmakers are questioning major banks on how they're protecting customers from "significant scams and fraud" via Zelle, in light of JPMorgan Chase's recent decision to block transactions that originate from social media on the peer-to-peer payment platform. Thu, 03 Jul 2025 19:24:12 +0000 /banking/articles/2360585?utm_source=rss&utm_medium=rss&utm_campaign=section /banking/articles/2360585 The steep funding cut that Republicans have passed for the Consumer Financial Protection Bureau could strengthen the Trump administration's position in its court fight to resume downsizing the agency, even if it doesn't directly resolve the legal questions at play.