News Topic: Finance and investment-related court cases

An internal CFPB memo says it was considering a $10 billion fine before settling on $100 million; state suit against credit bureau is likely to be the first of many. ... Read full article

Credit Suisse Group AG said it settled lawsuits brought by Massachusetts Mutual Life Insurance Co. over the sale of mortgage-backed securities before the financial crisis. ... Read full article

U.S. Bank and Wells Fargo to use Blend software to speed up mortgage origination processes; Robert Kaplan wants to keep stress tests on big banks. ... Read full article

Basel Institute says enforcement is the problem; wealth advisor says bank steered clients away from her to white colleagues and blocked her promotion. ... Read full article

Acting Comptroller Keith Noreika says his agency is prepared to defend its authority to grant banking licenses to fintech firms; lawmakers hopeful they can block anti-arbitration rule before it takes effect. ... Read full article

Readers weigh in on Wells Fargo investors reelecting state regulators suing the OCC, Wells Fargo's annual meeting, ultralow interest rates and more. ... Read full article

Financial services companies and groups are increasingly willing to take the regulatory regime to court in an effort to fight back — and so far, they appear to be succeeding. ... Read full article

Ocwen Financial asked a federal judge Wednesday to dismiss a lawsuit by the Consumer Financial Protection Bureau, saying the agency is unconstitutional. ... Read full article

A federal appeals court rejected Friday an appeal by the Consumer Financial Protection Bureau to investigate an accreditor of for-profit colleges. ... Read full article

Justices on the Supreme Court appeared exasperated with both sides for a case that would define whether companies that buy distressed debt are covered under a federal statute setting limits on their activities. ... Read full article

The California Supreme Court ruled Thursday that a provision in an arbitration agreement is invalid if it tries to waive a consumer’s right to stop future violations of laws. ... Read full article

A group of 10 Republican senators are calling on Treasury Secretary Steven Mnuchin to drop the government’s appeal of a ruling last year that rejected insurance giant MetLife’s designation as a systemically risky firm and to de-designate the remaining two ... Read full article

A bank took the unusual step of suing the FDIC over its Camels rating of 4 in a case that could set an important precedent for the industry. ... Read full article

The Justice Department told a federal appeals court on Friday that President Trump should have the authority to fire the head of the Consumer Financial Protection Bureau. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

The Justice Department plans to defend President Trump's executive authority by siding with PHH Corp. in the mortgage lender's controversial case alleging the Consumer Financial Protection Bureau is unconstitutional. ... Read full article

The Consumer Financial Protection Bureau faces its first jury trial in April in a case that could test whether the embattled agency is overstepping its authority and if it can engage in what critics see as Operation Choke Point-style tactics. ... Read full article

Four retail managers are the first senior employees let go by the bank for their roles in the phony accounts scandal; federal court rules against investors in GSE suit. ... Read full article