Judge Orders Bank of America to Pay $540 Million in FDIC Lawsuit April 15, 2025 By Jonathan Stempel A federal judge ordered Bank of America to pay $540.3 million in a long-running Federal Deposit Insurance Corporation lawsuit accusing...
CFPB Drops Suit Against US Banks Over Alleged Fraud on Zelle March 5, 2025 By Paige Smith The Consumer Financial Protection Bureau dismissed another Biden-era lawsuit, this one targeting some of the world’s largest banks for allegedly...
Wells Fargo Says It’s Quitting Climate-Banking Group December 23, 2024 By Saijel Kishan and Alastair Marsh Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall...
Goldman Sachs Quits Global Climate Coalition for Banks December 6, 2024 By Simon Jessop and Virginia Furness Goldman Sachs said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts...
FDIC Looks to Direct Monitoring of Fintech Companies After Synapse Collapse December 5, 2024 By Emily Mason The Federal Deposit Insurance Corp. has started to directly monitor financial-technology companies that partner with banks across the US, according...
Consumer Watchdog Facing Curbs, Scrutiny Following Trump Win November 14, 2024 By Pete Schroeder and Tatiana Bautzer Bank executives and lawyers anticipate the incoming Trump administration to place significant limits on the U.S. Consumer Financial Protection Bureau...
Evolve Bank & Trust Confirms Data Was Stolen in Cyberattack June 27, 2024 By Teresa Xie and Charles Gorrivan Evolve Bank & Trust confirmed it was the victim of a cyberattack and that customer data had been posted on...
Growing Reliance on Big Tech for AI Carries New Risks, Banks Say June 7, 2024 By Elizabeth Howcroft The boom in artificial intelligence will increase banks’ dependence on big U.S. tech firms, creating new risks for the industry,...
Bank Groups Sue US Regulators to Halt Anti-Redlining Rules February 6, 2024 By Sally Bakewell Several industry groups sued US regulators to block recent overhauls to the Community Reinvestment Act, arguing the new rules meant...
Lex Greensill’s Fraud Means Zurich Can’t Payout $400 Million, Insurer Argues February 6, 2024 By Upmanyu Trivedi Lex Greensill’s fraud and “conspiracy” with commodities tycoon Sanjeev Gupta should prevent the financier’s collapsed bank from making a $400...