Disputes and judgments

JPMorgan whistle-blower gets record $30M from CFTC

07/12/18

The Commodity Futures Trading Commission has approved a record $30 million whistle-blower award, the result of information that helped the agency sanction JPMorgan Chase for failing to properly inform some wealthy clients about conflicts of interest behind its investment recommendations

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Two Native American tribes to pay $3 million in payday loan scam

06/27/18

Two Native American tribes agreed to forfeit $3 million in money they took in for acting as fronts for a scam run by Scott Tucker, the former race-car driver convicted of operating an illegal payday loan business.

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BofA sued for role in alleged $102 million Ponzi scheme

06/26/18

The class-action suit filed on behalf of people who lost money in the scam accuses Bank of America of failing to spot suspicious activity, including deposits of hundreds of thousands of dollars into accounts with small or negative balances.

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Wells Fargo fined by SEC over ‘flipping’ of structured products

06/25/18

The company's brokerage unit agreed to pay $5.1 million to settle claims that employees persuaded clients to sell certain investments before maturity in order to collect higher fees.

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Banks took wide-ranging actions to head off more sales abuses: OCC

06/15/18

The agency has provided new information about changes large and midsize banks are making in the wake of the Wells Fargo scandal, but Senate Democrats continue to press for more details.

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Judge approves Wells' $142M settlement of fake accounts lawsuit

06/15/18

The settlement applies to customers who had accounts opened without their consent over a 15-year period beginning in May 2002.

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Wells Fargo fake account holders to get 'imperfect' closure

05/30/18

Wells Fargo customers who didn't consent to having 3.5 million accounts created by bankers trying to hit sales quotas are finally getting what a judge called "rough justice."

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Auto lending scrutiny: Will states pick up where CFPB left off?

05/07/18

Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices.

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Wells Fargo to pay $480M to settle suit tied to fake accounts

05/04/18

The class-action lawsuit filed by investors alleged that bank executives deliberately failed to disclose the full nature of its cross-selling practices to shareholders.

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Barclays to pay $2 billion to settle mortgage securities suit

03/29/18

The investigation targeted 36 residential mortgage-backed securities deals involving $31 billion worth of loans, more than half of which defaulted, according to the Justice Department.

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