Treasury contests agency’s claims that ban on mandatory arbitration benefits consumers; former head of FX trading used client information to profit the bank.
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.
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.
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.
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.
Ocwen Financial asked a federal judge Wednesday to dismiss a lawsuit by the Consumer Financial Protection Bureau, saying the agency is unconstitutional.
