Legal issues and news

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.

Federal prosecutors say Menendez, a New Jersey Democrat who sits on the Senate Banking Committee, accepted bribes in return for exerting political influence — including helping Fred Daibes, a small-bank executive who had been accused of loan fraud.

At the Sibos conference, cybersecurity leaders at banks and other experts debated how to train employees to thwart threats that AI has intensified.

The move to create data consortia and proprietary information networks is creating exactly the kind of information silos that money launderers exploit today.

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.

Educational institutions ought to have some skin in the game when it comes to the student loan market.

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.

More elderly consumers are being diagnosed with Alzheimer's and dementia — making them vulnerable to scammers. Financial institutions are seeking special certifications to better equip themselves to help.

The managers of the bankrupt crypto exchange FTX sued the parents of co-founder and former CEO Sam Bankman-Fried to "recover millions of dollars in fraudulently transferred and misappropriated funds," according to a court filing.

The ruling comes in a lawsuit New York Attorney General Letitia James filed in 2020, claiming Jonathan Braun and others made thousands of merchant cash advances to small businesses, charged annualized interest that sometimes exceeded 1,000% and defrauded and harassed borrowers.