News Topic: litigation

The shareholders' claims against Fannie Mae and Freddie Mac's regulator mirror arguments in cases challenging the Consumer Financial Protection Bureau. ... Read full article

If the court agrees to hear the case, its conservative majority could make it easier for a president to fire a CFPB director, though other outcomes are possible. ... Read full article

The agency's director told congressional leaders and staff that she backs a Supreme Court challenge to the bureau's leadership structure. ... Read full article

The Supreme Court may be closer to examining a key restraint on a president's ability to change CFPB leadership. ... Read full article

Consumer Financial Protection Bureau Directors Kathy Kraninger is under pressure to ask a federal judge to lift a stay that has kept the agency's short-term-lending rule from going into effect. ... Read full article

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying. ... Read full article

A customer who sued Chase over credit card interest charges is now asking a judge to order the bank to stop notifying cardholders about its plan to reinstate arbitration. ... Read full article

The tech company denied allegations from Bessemer System Federal Credit Union regarding security issues and other problems with Fiserv's services. ... Read full article

The Wisconsin Supreme Court upheld a "narrow interpretation" of a state-level consumer-protection law that maintains lenders' rights to collect debts without fear of being sued for damages. ... Read full article

The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well. ... Read full article

In a unanimous ruling, the court placed new limits on the ability of consumers to sue law firms that handle foreclosures on behalf of mortgage servicers. ... Read full article

The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling. ... Read full article

PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame. ... Read full article

Seven years after James Gutierrez left Oportun Financial and started a competitor, the acrimony sparked by the divorce is coming into public view. ... Read full article

Several megabanks have sued the National Credit Union Administration claiming breach of settlement in a previous case related to mortgage-backed securities, but trends may favor the agency. ... Read full article

The settlement would mark a rare instance where the bank stands to benefit monetarily from a scandal that has severely damaged its reputation and cost it hundreds of millions in penalties. ... Read full article

At least four banks may lose certain tax benefits if it is proven that DC Solar operated an investor scheme. ... Read full article

The effort comes more than a year after Republicans successfully blocked a CFPB rule that would have banned mandatory arbitration clauses in financial contracts. ... Read full article