Legal issues and news

After the Office of the Comptroller of the Currency cracked down on a $2.8 billion-asset bank, industry observers expect more scrutiny of the ties between banks and financial technology startups.

It remains to be seen what the capped price for Russian oil will be or whether the move will stabilize world energy prices.

Executives at Canadian Imperial Bank of Commerce's London office kept a book full of "sexually suggestive comments" about women for a decade, in the latest employment tribunal case to shine a light on banking's sexist culture. 

Though fewer people are writing checks, banks of all sizes are seeing a massive increase in check fraud since 2020. Recouping losses from bad checks is pitting banks against each other, and regulators may have to weigh in.

The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.

Celsius Network, the bankrupt cryptocurrency lender, is seeking to give coins back to a sliver of users who are locked out of their accounts. 

The state Supreme Court heard oral arguments in a lawsuit involving one of the nation's largest debt buyers. At issue is how much detail the industry must disclose about what consumers allegedly owe.

The Department of Justice's department of legal counsel said that the Federal Deposit Insurance Corp.'s board members can bring matters into consideration and vote, even without approval from the agency's chair. 

A decade ago, Think Finance partnered with Native American tribes in an effort to avoid state interest-rate caps on consumer loans. After the company's legal woes finally ended this month, court documents shed light on its rapid rise and steep fall.

Banks have long lamented the lack of transparency surrounding the government's use of suspicious activity reports, which are submitted to Fincen and passed along to the department.