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One large bank accused the former lender of commingling mortgagor payments in its general operating accounts instead of delivering those funds to a lockbox.
November 13
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In its biannual report on supervision and regulation, the Federal Reserve Board noted an uptick in governance issues with large banks. Regional and community banks, meanwhile, were plagued by IT problems and risk management struggles.
November 10
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The Cincinnati-based bank, which purchased a solar lender last year, is facing an investigation from 17 state attorneys general over the acquired company's lending practices and contractor network. One solar panel installer has gone bankrupt and faced complaints across the country.
November 9
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Fincen's final rule issued Tuesday allows reporting companies to use Fincen identifiers as shorthand for a full list of preapproved beneficial ownership data, which the agency says will streamline the reporting process.
November 9
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Bank regulators' advance pledge to set capital levels at or above those required by the agreement is evidence that the results of the notice and comment period have been predetermined.
November 8
Squire Patton Boggs -
A sweeping class-action suit in Miami federal court by investors who claim they lost billions in the collapse of FTX and seek to pin blame not just on Bankman-Fried and his inner circle, but also on celebrities who were paid to endorse it to the masses, as well as bankers, accountants and lawyers who propped up the empire's legitimacy.
November 7
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His lawyers characterize him as a math nerd and not a criminal, but the mountain of evidence presented during his trial makes it hard to see him as innocent.
November 7
American Banker -
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.
November 6
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The Federal Trade Commission penalized the finance app Brigit after alleging it misled customers about being able to access "up to" $250 in cash advances in exchange for a monthly fee and made it difficult for them to cancel their subscriptions.
November 6
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The Treasury Department is expanding a whistleblower program, which currently deals only with anti-money-laundering violations, to include tips from employees of financial institutions that result in sanctions-related penalties.
November 5
