Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports.
The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland.
The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.
Four executives who sold stock after the company discovered a security breach had no knowledge of the incident when they made the trades, the company said. However, the status of federal investigations is unclear.
As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues.
The bank plans to contact all customers who paid fees for rate lock extensions during a three-and-a-half year period and to refund any who believe they should not have been charged.
Ocwen Financial reached a settlement with 10 states where it can't acquire servicing rights for eight months but it will not face any financial penalties.
Armed heists are becoming less common, but the overall number of robbery attempts has ticked back up in recent years. The opioid epidemic is a likely reason, according to an industry expert.
