Summit Credit Union in Madison, Wis., has filed what's believed to be the first lawsuit by a financial institution in connection with the massive data breach.
Bankers in Florida and Texas are dusting off their disaster-recovery playbooks, which focus on retrieving customers' valuables, ensuring employee safety and minimizing the bank's own legal exposure.
Jeffrey Seabold, Banc of California’s former vice chairman, alleges that he and ex-CEO Steven Sugarman were scapegoats for inappropriate behavior by certain directors and that the company manipulated its first-quarter earnings.
In a deregulatory environment, a rule that better enables consumers to bring class actions could lead to an explosion of litigation, which will affect product availability and pricing.
The San Francisco bank is embroiled in a high-stakes legal battle over the use of arbitration in disputes involving overdraft fees at the same time that adversaries are portraying the scandal-plagued bank as the poster child for why reform is necessary.
A federal appeals court is scheduled to hear oral arguments in August in a decade-old case against the San Francisco bank that could cost it hundreds of millions in penalties and restitution.
Readers chime in on the GSE conservatorships, bitcoin’s future, regulatory relief for regional banks, a recent Supreme Court ruling on debt collection, and more.
Banks and other firms collecting defaulted debt originated by another company are not subject to the kinds of restrictions placed on third-party debt collectors, the Supreme Court ruled Monday in a unanimous decision.
