Senate Confirms Justice Official Who Worked for Russian Bank
The Senate has confirmed President Donald Trump’s pick to lead the Justice Department’s criminal division.
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Credit Suisse to Pay $77 Million to Settle Bribery Case
Credit Suisse Group AG has agreed to pay $77 million to settle charges it obtained investment banking business in the Asia-Pacific region by corruptly influencing foreign officials, the Securities and Exchange Commission said Thursday.
Read moreSudan Asset Attachment Heads to High Court
The U.S. Supreme Court took up a case Monday where two New York banks were ordered to satisfy a $314 million judgment against Sudan.
Read moreWells Fargo Can’t Duck Federal Class Action Suit
A federal judge indicated Monday that he will allow nationwide litigation to go forward accusing Wells Fargo Bank of forcing unneeded auto insurance on borrowers.
Read moreCity’s Lawsuit Accusing Wells Fargo of Racist Lending Advances
A lawsuit accusing Wells Fargo of violating the Fair Housing Act by offering predatory loans to minority homebuyers will advance, a federal judge ruled Friday.
Read moreCitibank to Pay $100 Million in Multistate Settlement
Citibank will pay $100 million in a multistate action to settle claims it manipulated a key interest rate during the global financial crisis that resulted in massive losses to investors, California Attorney General Xavier Becerra announced Friday.
Read moreWells Fargo Pays
A federal judge gave final approval Thursday to a $142 million class action settlement of Wells Fargo Bank’s phony accounts scandal.
Read moreRabobank Class Action
A superior court class action accuses Rabobank of unfair debt collection: charging a $5 a day “continued overdraft fee” for up to 10 days in addition to the initial $35 overdraft fee, without properly disclosing it.
Read moreMerrill Lynch Whacked
Merrill, Lynch, Pierce, Fenner & Smith will pay $15.7 million — $10.5 million to customers and $5.2 million in penalties — for misleading customers into overpaying for residential mortgage-backed securities, the SEC said Tuesday.
Read moreFrench Bank Fined $1 Billion for Bribes in Libya
The French bank Societe Generale will pay more than $1 billion in penalties for bribing Libyan government officials during the rule of Muammar Gaddafi, the U.S. Department of Justice said Monday.
Read moreTrump Signs Rollback of Dodd-Frank Banking Rules
President Donald Trump signed into law Thursday a measure loosening key restraints for banks that came in the wake of the 2008 financial crisis and Great Recession.
Read moreDeutsche Bank to Slash Thousands of Jobs to Control Costs
Deutsche Bank is slashing thousands of jobs as Germany’s largest lender refocuses its global investment banking business on Europe and seeks to return to steady profitability.
Read moreRollback of Dodd-Frank Rules Sent to Trump’s Desk
President Donald Trump tweeted on Wednesday morning that he will “shortly” sign a financial-reform bill that rolls back some of the regulatory and reporting requirements Congress imposed on banks in the Dodd-Frank Act.
Read moreBrexit Vote Has Already Cost Households ‘a Lot of Money’
Britain’s top central banker says the country’s vote nearly two years ago to leave the European Union has cost the average household in the country 900 pounds.
Read moreMoney Laundering
Federal prosecutors on Friday fined Rabobank $500,000 — in addition to its forfeiture of $369 million — for obstructing the Comptroller of the Currency by concealing deficiencies in its anti-money-laundering program, the largest criminal penalty ever in the Southern District of California.
Read moreEighth Circuit Hears Ponzi Case Against Regional Bank
The Eighth Circuit heard arguments Thursday over a court-appointed receiver’s claim that Wisconsin-based Associated Bank played a role in a $79 million Ponzi scheme.
Read moreMexican Bonds
In a federal antitrust class action, the Boston Retirement System claims Banco Santander and dozens of co-conspirators, including JPMorganChase and Citigroup, manipulated the price of Mexican government bonds.
Read moreUS Hits Head of Iran’s Central Bank With Terror Sanctions
The Trump administration is designating the head of Iran’s central bank as a terrorist and hitting him with sanctions intended to further isolate Iran from the global financial system.
Read moreUK Authority Fines Barclays CEO in Whistleblower Affair
British regulators have fined Barclays CEO Jes Staley 642,430 pounds ($871,976) for his attempt to identify a whistleblower.
Read moreAiding & Abetting Bar Works
A group of investors who say they were defrauded by Renwick Haddow’s coworking scam Bar Works sued JPMorgan Chase on Thursday, saying the bank “knew Haddow was a crook and was aiding a fraudulent scheme.”
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