litigation

Amid battle with bankers, NCUA doubles down on FOM reform

06/19/18

The National Credit Union Administration is set to vote on revisions to its field-of-membership rule, even as it's entangled in a legal dispute with the American Bankers Association over the rule.

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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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Federal judge rejects CFPB's effort to halt payday rule

06/13/18

Acting CFPB Director Mick Mulvaney had sided with two industry trade groups that sued the CFPB in April to invalidate the tough restrictions.

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Legal expenses eat into M&T's 1Q profits

04/16/18

A $135 million increase in litigation expenses related to its 2011 acquisition of Wilmington Trust overshadowed a wider net interest margin and improved credit quality for the Buffalo, N.Y., company in the first quarter.

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A decade on, crisis-era litigation still bedevils banks

04/04/18

Banks have not yet finished with the wave of lawsuits stemming from the financial crisis. There are ways they can better ward off those threats next time around.

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HomeStreet in Seattle notches legal victory in fight with activist investor

04/02/18

A court agreed with HomeStreet that Blue Lion Capital failed to comply with the company's advance-notice bylaw when it submitted director nominations and shareholder proposals.

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Short-circuited: Banks have few options to recoup costs of outages

03/02/18

The estimated costs of recent digital glitches at BB&T, TD and Wells Fargo are in the hundreds of millions of dollars, but contractual and economic realities make it hard for banks to sue vendors for the money or fall back on insurance policies.

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How the payday lending industry shapes academic research

02/05/18

A Georgia Supreme Court case sheds light on the lengths that the often assailed industry has gone to shape policy outcomes. It also raises the question of whether, in evaluating industry-funded research, it is enough to assess the published study itself, or if it is necessary to dig deeper.

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Relief awarded in CashCall case is fraction of what CFPB sought

01/22/18

In a blow to the Consumer Financial Protection Bureau, a federal judge rejected the agency's request for over $280 million in penalties against the California lender CashCall, ruling that the lender's violations did not justify such a large fine.

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FSOC gives up effort to designate MetLife as SIFI

01/19/18

The Financial Stability Oversight Council filed a joint motion with MetLife that all but cemented the 2016 court ruling throwing out the insurance giant's designation.

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