litigation

The agency’s consolidation of supervision and enforcement policy into one office could compromise the independence of those deciding when to investigate alleged wrongdoing by banks and others, critics of the move say.

Driver Management, a bank investor, alleges that First United in Maryland made false claims and improperly lobbied lawmakers to keep its nominees off the board. The bank asserts that it acted properly in response to an attempted hostile takeover.

The Justice Department alleges that the bankers worked with “higher-ranking bank officials” at Washington Federal Bank for Savings in Chicago to falsify records and hide funds prior to the bank's December 2017 collapse.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The case stemmed from the credit union's claims that the bank's branding would create confusion among consumers.