Legal issues and news

Shares in the Dallas bank fell sharply after it disclosed that it expects to lose its contract for the Direct Express program, which would wipe out more than $3 billion in non-interest bearing deposits. Comerica's involvement with the Treasury Department's prepaid card program has been marred by controversy.

Mixed earnings results at Wells Fargo and the ongoing merger proposal between Discover Financial Services and Capital One Financial are creating added pressure for investors.

Banks reported that they have far more protections against fraud in digital channels versus branches or call centers, according to survey research.

As part of the three-year agreement, the group will fund a $1.22 million scholarship fund to recruit minorities into the appraisal profession.

The four lawsuits allege that attackers stole members' Social Security numbers, among other data. Patelco has not yet confirmed whether any data was stolen.

The banking industry is using the threat of lawsuits to push regulators toward a less stringent final rule on capital. Those in favor of tougher rules should fight fire with fire.

In this edition of American Banker's news quiz, see if you know the latest updates on JPMorgan Chase's fraud prevention methods, Supreme Court rulings on swipe fees, the woes of former Silvergate Bank executives and more.

The attack knocked out online banking, mobile banking and the call center at Patelco Credit Union.

A pair of rulings upended the deference afforded to agency interpretations of the law and extended the statute of limitations to bring regulatory challenges. But experts say the impact on banking regulation will likely be limited.

The excision of the Chevron doctrine from administrative law is the crest of a wave of litigative enthusiasm that has been building in the banking industry for years. But defanging the administrative state could also establish binding legal precedents that can cut both ways.