News Topic: litigation

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

If HSBC reaches an agreement with the government, it could give an early indication of how the Trump administration will levy financial penalties. ... Read full article

Executives at four former credit repair companies agree to pay $2 million for charging consumers millions in illegal advance fees. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

The Consumer Financial Protection Bureau is in the direct crosshairs of a federal lawsuit questioning its leadership structure. But it might be the independence of all federal agencies on trial. ... Read full article

Appeals court justices appeared divided on whether the structure of the Consumer Financial Protection Bureau is constitutional during oral arguments in the PHH v. CFPB case on Wednesday. ... Read full article

President Trump’s aim to scale back financial regulations may make it easier for student loan borrowers to maintain federal class actions. ... Read full article

Lamar Cox pleaded guilty to hiding losses while the bank held government funds. Tennessee Commerce failed in 2012. ... Read full article

The West Virginia company sold the mortgages to Residential Funding and ResCap Liquidating Trust between 2003 and 2007. ... Read full article

The insurer says the administration’s review of systemic designations could moot the case ... Read full article

The San Francisco bank is adding $32 million to a previously announced agreement, and also extending it back to 2002, in the wake of a report on the roots of the firm's sales scandal. ... Read full article

Lawmakers and others want the Trump administration to drop the Financial Stability Oversight Council's appeal of a controversial court ruling, but doing so may be harder than it sounds. ... Read full article

The settlement, which requires judicial approval, will cover customers' fees and other costs related to about 2 million unauthorized accounts. ... Read full article