News Topic: litigation

Federal regulators should consider applying guidance that is nearly two decades old to end uncertainty about the legality of particular bank partnerships. ... Read full article

The Massachusetts senator said the government’s findings bolster allegations that the servicer steered borrowers into expensive student loan forbearance plans. ... Read full article

The bank recently notified an upstate New York man that he was wrongly denied a mortgage modification, and enclosed a $25,000 check. But details of what went wrong have been hard to come by. ... Read full article

The Nashville, Tenn., company had opposed a request by Gaylon Lawrence to boost his ownership to 15%. ... Read full article

After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy. ... Read full article

The agency's settlement with Robert Moseley, Sr., and Robert Moseley, Jr., was enforced by the U.S. District Court for the Western District of Missouri. ... Read full article

The marketplace lender recorded an impairment charge tied to the acquisition of a specialty lending business and is still being hit with costs stemming from the scandal that toppled its previous CEO. ... Read full article

An uptick in fines and a new tactic to counter claims about the CFPB’s authority is in sharp contrast to the agency’s rhetoric. ... Read full article

A more conservative court will be likelier to rule favorably on issues ranging from the deference for regulatory agencies to what constitutes a fair-lending violation. ... Read full article

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. ... Read full article

The settlement applies to customers who had accounts opened without their consent over a 15-year period beginning in May 2002. ... Read full article

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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, ... Read full article

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. ... Read full article