Legal issues and news

The interim final rule removes the requirement under the Corporate Transparency Act for U.S. companies and people to report beneficial ownership information.

Banks such as Texas Capital and Synovus say they're learning from anti-money-laundering failures elsewhere. They emphasize the importance of having enough compliance staffers — and ensuring they have the necessary skills.

Apollo Global Management's billionaire co-founder Marc Rowan described conversations he and Charlie Javice had during her discussions with the bank, including about a one-on-one meeting she had with JPMorgan Chief Executive Officer Jamie Dimon.

Marc Rowan's membership on Frank's board was cited by the defense at the beginning of trial as showing Charlie Javice's company was a legitimate and credible business.

Trade groups, citing federal banking conflicts, are asking for summary judgment to permanently block a state law banning interchange fees on taxes and tips.

The card network said it saved would-be victims $350 million in the first year after it combined several crime-fighting units.

A Maryland judge temporarily halted mass layoffs of probationary employees at multiple agencies, citing legal violations and harm to states' ability to respond to unemployment needs.

A federal judge in Maryland ruled against the City of Baltimore's attempt to block cuts to Consumer Financial Protection Bureau program funding on procedural grounds.

Hackers breached the New York community bank's cybersecurity walls in 2022, drawing regulatory scrutiny and causing its CEO to resign.

Both consumers and banks reported that the rate of fraud and scams has steadied, according to Fincen and FTC data, but the total cost continued rising.

The software helps identify and investigate crime, then writes a recommendation.  

The question is no longer whether the financial services industry needs a unified approach to combating instant payment fraud but who will take the lead to make it happen. The onus is on the biggest players in the market to show the way forward.

A federal judge said she is inclined to issue a preliminary injunction to stop the Trump administration dismantling the Consumer Financial Protection Bureau.

A new order requires certain non-bank financial companies in certain ZIP codes to report transactions over $200, much lower than the previous $10,000 threshold.

Banco San Juan Internacional argues recent comments from Federal Reserve Chair Jerome Powell raise questions about the central bank's handling of master accounts.

A Texas judge refused the Consumer Financial Protection Bureau's effort to put a lawsuit on hold against Dallas-based Comerica Bank, claiming the stay would "harm Comerica's reputation."

Five Star Bank's parent company denied wrongdoing but said the agreement spares it the uncertainty and expense that might have resulted from a trial.

In a packed courtroom, a federal judge parsed whether the Trump administration's aggressive actions to rein in the Consumer Financial Protection Bureau are part of a "normal" transition of power or would impede its statutorily required functions.

President Donald Trump's company accused it of illegally "de-banking" him for political reasons by abruptly canceling hundreds of accounts for his real estate business after his first term ended in 2021.

The Trump administration intended to gut the Consumer Financial Protection Bureau through a mass workforce reduction, which could be a smoking gun in a court battle with the bureau's union.